F.P. Report
ISLAMABAD: Former Commerce and Industry Minister Gohar Ejaz has said that Pakistan’s debt will not end by taking more loans but rather by increasing domestic exports.
Addressing a press conference regarding budget proposals, All Pakistan Textiles Mills Association (APTMA) chief Gohar Ejaz claimed until the entire nation pays taxes, the country will not run. He suggested to the government that non-filers should not be allowed to deposit their money in banks.
Gohar Ejaz demanded that the government should abolish the category of late filers and non-filers. He also asked the FBR that the tax return form contain five lines.
APTMA chief said the country’s debts will be eliminated by running industries. He said petroleum levy is also a type of tax. A petroleum levy of Rs1000 billion has been imposed in the budget which was an injustice, said Gohar Ejaz.
Gohar Ijaz said in the upcoming budget, the tax-to-GDP ratio has been increased by 4.33 per cent. A tax burden of more than 3 thousand billion rupees has been put in the budget as Govt was taking heavy tax measures in the budget.
He said tax to GDP ratio was being increased from 9.5 per cent to 16 per cent in one year. The burden of tax and non-tax is being imposed on the people.
Pakistan’s expenditure is 23% of GDP. Gohar Ijaz said measures to reduce these expenses were not visible in the budget.
APTMA chief demanded that the government should reduce its expenses. Gohar Ijaz said the government should reduce the expenditure of 4.3 per cent of GDP. Gohar Ejaz demanded that the government should present the statement of reduction of expenses in the Parliament. He assured the government that the business community will always stand with Pakistan.
