KARACHI: Muttahida Qaumi Movement- Pakistan (MQM-P) on Wednesday urged the federal government to reduce prices of electricity, gas and petroleum products in the next budget for the fiscal year 2024 (FY24).
Senior Deputy Convener MQM Pakistan Dr Farooq Sattar along with Senior Deputy Convener Nasreen Jalil and members of the Coordination Committee, while addressing an emergent press conference regarding the budget proposals in their Bahadurabad office, said the government should announce a public-friendly budget, and give relief to the inflation-hit citizens.
Theme of our proposal is ‘say no to default’, Sattar said adding the party’s Economic and Business Forum (EBF) has developed a well-thought-out budgetary proposal. If incorporated in the federal budget, this will resolve the chronic issues of the country, including Karachi.
“We want to break statuesque, and rid the country from IMF and international lending agencies through better economic policies,” he said.
While sharing the budget proposals, he said the government should broaden the tax base, enhance direct tax net, take austerity measures, and reduce energy circular debts and imports.
He also called for the withdraw taxes on electricity, gas and oil, stop the culture of red-tapism in government departments, establish trade facilitation centres, IT parks, vocational training institutions, promote SME sector, enhance cottage industry, purchase hybrid cotton seeds, and resolve impediments related to investment, ensure professional management in the State Owned Enterprises (SOEs) such as PIA, and Pakistan Steel Mills (PSM).
He deplored that our direct tax rate is lowest in the region. Only 3.2 million people mostly associated with corporate sector give direct tax.
“All taxable income must be taxed,” he said
He said Karachi is contributing around 70 percent or Rs 4000 billion revenue to the national exchequer, but unfortunately the city is not being given due importance at the federal and provincial level.
He warned KE and SSGC to make sure equitable supply of electricity and gas, or else they will be held accountable through public power.
He said that KE’s license is expiring by July this year, and he called for the unbundling of power utility’s generation, transmission, and distribution system to allow other power sector market players to operate in the sector.
Copyright Business Recorder, 2023
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