The Union of Small and Medium Enterprises (Unisame) has proposed to the Ministry of Finance to prepare a budget on giving relief to the common man who is complaining of finishing his salary by the 15th of the month and is going without meals for the rest of the month.
Zulfikar Thaver, convener of Unisame has drawn the attention of Finance Minister Shaukat Aziz to the fact that the common man is burdened with high cost of utilities, taxes, duties and major portion of the income goes in meeting these claims and nothing remains to overcome other social obligations.
He said that medical care, education, supply of pure drinking water are the responsibilities of the state and the state is duty-bound to provide these necessities to the citizens.
He said that the finance minister is a man of vision and wellwisher of the SMEs and, having improved the economic situation, he should now focus on the upliftment of the poor people for whom he has done nothing in the past.
Zulfikar suggested including (1) reduction in cost of production, to reduce cost utility charges must be lowered.
(2) tax exemption limit to be enhanced. The tax exemption limit of Rs 80,000 be increased to Rs 200,000
(3) Reduction in import duties as it helps reducing smuggling.
(4) Tax holiday for new units this will help encourage new investors.
(5) Full refund of import duty if item re-exported.
(6) Zero rated duty on import of machinery.
(7) Refinancing at the rate of 3 percent for machinery.
(8)Leasing of machinery without equity and easy instalments on hire purchase.
(9) land to be given to new units at concessional rates.
(10) Balancing, replacement and modernisation finance very special reduced rate to encourage adoption of modern technology
(11) Sales tax should be simplified and income tax modified.
He said that the market is flooded with smuggled goods and also imitations made by locals and this needs to be checked urgently and with a heavy hand.
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