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