AGL 40.65 Increased By ▲ 0.65 (1.63%)
AIRLINK 127.65 Increased By ▲ 0.61 (0.48%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.53 Increased By ▲ 0.02 (0.44%)
DCL 8.43 Decreased By ▼ -0.12 (-1.4%)
DFML 41.48 Increased By ▲ 0.04 (0.1%)
DGKC 86.70 Decreased By ▼ -0.15 (-0.17%)
FCCL 32.00 Decreased By ▼ -0.28 (-0.87%)
FFBL 65.08 Increased By ▲ 0.28 (0.43%)
FFL 10.18 Decreased By ▼ -0.07 (-0.68%)
HUBC 110.06 Increased By ▲ 0.49 (0.45%)
HUMNL 14.63 Decreased By ▼ -0.05 (-0.34%)
KEL 5.17 Increased By ▲ 0.12 (2.38%)
KOSM 7.18 Decreased By ▼ -0.28 (-3.75%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 60.01 Decreased By ▼ -0.40 (-0.66%)
OGDC 193.50 Increased By ▲ 3.40 (1.79%)
PAEL 27.95 Increased By ▲ 0.12 (0.43%)
PIBTL 7.86 Increased By ▲ 0.03 (0.38%)
PPL 150.52 Increased By ▲ 0.46 (0.31%)
PRL 26.70 Decreased By ▼ -0.18 (-0.67%)
PTC 16.20 Increased By ▲ 0.13 (0.81%)
SEARL 77.52 Decreased By ▼ -8.48 (-9.86%)
TELE 7.38 Decreased By ▼ -0.33 (-4.28%)
TOMCL 35.55 Increased By ▲ 0.14 (0.4%)
TPLP 7.94 Decreased By ▼ -0.18 (-2.22%)
TREET 16.05 Decreased By ▼ -0.36 (-2.19%)
TRG 53.00 Decreased By ▼ -0.29 (-0.54%)
UNITY 26.57 Increased By ▲ 0.41 (1.57%)
WTL 1.27 Increased By ▲ 0.01 (0.79%)
BR100 9,884 No Change 0 (0%)
BR30 30,600 No Change 0 (0%)
KSE100 93,941 Increased By 585.7 (0.63%)
KSE30 29,110 Increased By 179.2 (0.62%)

Pakistan Muttahida Kisan Mahaz (PMKM) strongly criticising imposition of 3.5 percent withholding tax on agricultural produce has announced to launch a movement against it. PMKM Chief, Muhammad Ayub Khan Mayo addressing a press conference on Thursday said that farmers would not pay any such tax, which had been imposed without taking any segment of the society into confidence.
He said imposition of this tax on agricultural produce would increase the burden on consumers and push the price spiral upward. Mayo was of the view that the government after failing in imposition of Reformed General Sales Tax (RGST) took the step of imposing tax on agricultural produce, which would result in increase of prices of vegetables and fruits.
He said this tax had been imposed to meet the conditions of the IMF and World Bank and to pay the instalment of the loan. He claimed that the government intended to collect Rs 93 billion from levy of this withholding tax. The PMKM chief suggested that government should reduce expenditures on its cabinet and other non-development expenses. He claimed that corruption was also rampant in the government institutions and rulers were adopting policies of the IMF and World Bank, which could not deliver any good to the masses.
Mayo said that his party would seek co-operation from public representatives, civil society and all segments of the society to formulate a future line of action and launch a movement against the government.

Copyright Business Recorder, 2011

Comments

Comments are closed.