Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Chairman Mian Zahid Hussain has suggested that the government adopt a growth-based tax policy, it was reported on Friday.
Mian Zahid Hussain said that “our exports are decreasing due to an increase in production expenditure.”
He said that Pakistan’s industrial growth is the biggest challenge for the government. He said that exports are decreasing due to the cost of electricity and gas are affecting our exports.
Mian Zahid Hussain said that Pakistan registered a 7 percent decrease in exports during the current fiscal year. He said that the US-Iran war is also affecting our remittances.
He said that the government should focus on exports while finalizing next year’s budget. He said that all those sectors that are out of the tax net should be brought back into the tax net.
He said that raiding the business center will not help to expand the net tax. He said that the government should exempt heavy taxes on industries. Mian Zahid Hussain said that the hike in petrol and diesel prices directly increased the inflation.
