The Rice Exporters Association of Pakistan (REAP) has urged the government to introduce a 5% nominal tax economic amnesty scheme aimed at attracting investment and boosting capital inflows, particularly from overseas Pakistanis.
In a statement on Saturday, the leadership of REAP, including Abdul Rahim Janoo, Group Chairman, Malik Faisal Jahangir, Chairman REAP, Jawed Jillani, Senior Vice Chairman REAP and Mohibullah, Vice Chairman extended their heartiest congratulations to President Asif Zardari, Prime Minister Shehbaz Sharif and CDF Field Marshal Syed Asim Munir for proactive and constructive role in promoting peace and helping to prevent the escalation of hostilities in the Gulf region.
“REAP highly appreciates these timely peace initiatives and hopes this will result into strengthen peace and security across the region, as well as it will become a milestone for the betterment of the Pakistani economy,” read the statement.
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Group Chairman, Rahim Janoo, added that taking advantage of the prevailing circumstances, the government should consider introducing an economic amnesty scheme for both residents and overseas Pakistanis.
“Such an initiative would encourage the inflow of funds for investment into the country by offering a nominal tax rate of 5% and simplified procedures without requiring detailed money trail documentation.
“This step could significantly boost Pakistan’s economic activity and investor confidence.
“In particular, overseas Pakistanis residing in the Gulf region are likely to benefit from and actively participate in such a scheme, contributing meaningfully to Pakistan’s economic growth and stability,” said Rahim.
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