BML 4.81 Decreased By ▼ -0.10 (-2.04%)
BOP 12.74 Decreased By ▼ -0.32 (-2.45%)
CNERGY 7.01 Decreased By ▼ -0.11 (-1.54%)
CPHL 83.34 Decreased By ▼ -1.31 (-1.55%)
DCL 13.24 Decreased By ▼ -0.48 (-3.5%)
DGKC 171.80 Decreased By ▼ -1.54 (-0.89%)
FCCL 46.05 Decreased By ▼ -0.55 (-1.18%)
FFL 15.57 Decreased By ▼ -0.13 (-0.83%)
GCIL 26.58 Decreased By ▼ -0.09 (-0.34%)
HUBC 148.14 Decreased By ▼ -2.25 (-1.5%)
KEL 5.31 Increased By ▲ 0.04 (0.76%)
KOSM 6.24 Decreased By ▼ -0.16 (-2.5%)
LOTCHEM 20.67 Decreased By ▼ -0.09 (-0.43%)
MLCF 84.02 Decreased By ▼ -1.42 (-1.66%)
NBP 124.95 Decreased By ▼ -3.90 (-3.03%)
PAEL 40.96 Decreased By ▼ -1.09 (-2.59%)
PIAHCLA 21.84 Decreased By ▼ -0.32 (-1.44%)
PIBTL 10.14 Increased By ▲ 0.05 (0.5%)
POWER 14.00 Increased By ▲ 0.06 (0.43%)
PPL 163.05 Decreased By ▼ -0.91 (-0.56%)
PREMA 41.44 Decreased By ▼ -0.54 (-1.29%)
PRL 31.98 Decreased By ▼ -0.84 (-2.56%)
PTC 22.80 Decreased By ▼ -0.76 (-3.23%)
SNGP 115.12 Decreased By ▼ -2.85 (-2.42%)
SSGC 44.06 Decreased By ▼ -1.19 (-2.63%)
TELE 7.75 Decreased By ▼ -0.25 (-3.13%)
TPLP 9.90 Decreased By ▼ -0.22 (-2.17%)
TREET 23.48 Decreased By ▼ -0.49 (-2.04%)
TRG 55.84 Decreased By ▼ -1.17 (-2.05%)
WTL 1.49 Decreased By ▼ -0.03 (-1.97%)
BR100 14,134 Decreased By -4.9 (-0.03%)
BR30 39,571 Decreased By -563.9 (-1.4%)
KSE100 138,597 Decreased By -68.1 (-0.05%)
KSE30 42,341 Decreased By -12.3 (-0.03%)

KARACHI: President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman has said that the government has not only exempted agriculture, a large sector of the economy, from taxes but big landlords are being given other concessions as well.

He said that despite giving privileges to the powerful landlords, there is a shortage of farm commodities in the country, adding that prices of vegetables and fruits are far from the reach of the common man.

President KATI said that the government is not interested in giving incentives to industrialists and exporters, rather increasing the tax burden on them.

He said that it is impossible to run any industry during increasing production costs, shortage of dollars and very expensive loans; in such a case, giving more incentives to the agricultural sector will make the economic crisis even worse.

Faraz-ur-Rehman said that if the concessions given to the agricultural sector are available to industrialists, not only a revolution could by more exports and rapid industrialization in the country, but the country's revenue can increase many times.

Expressing regret, he said that the government has no policy for the industry; however, benefits are available for the agricultural sector, especially for landlords and vendors, making landlords richer and their farmers poorer, adding even after 70 years, there is no happy situation.

President KATI said that the government should take tough decisions in the wake of current economic crisis and tax those who get unaccounted profits from the agricultural sector. Otherwise, putting the entire tax burden on only a certain section will bring the economy to the brink of collapse.

Copyright Business Recorder, 2023

Comments

Comments are closed.