Pakistan Industrial and Traders Association Front (PIAF), a body representing people from trade and industry, has prepared an eight-point reforms agenda in a bid to persuade the PPP-led federal government to make Budget 2011-12 a milestone for achieving the goals of economic revival, public welfare, sovereignty and self-reliance.
In the agenda, PIAF called for evolving a comprehensive strategy to utilise available resources efficiently, restructuring public sector enterprises, removing weaknesses of the taxation system, improving electricity bill collection system and taking steps for cutting down the cost of doing business. In the agenda document, issued on Monday, PIAF Chairman Sohail Lashari spoke about heavy borrowing from international donors, complex taxation system, repeated increases in electricity rates, inflation, unemployment, law and order, and high cost of doing business and urged the government to focus on these areas in the forthcoming budget.
He pointed out that the size of borrowing from IMF and World Bank has crossed the mark of US $54 billion while government's dependence on external debt is hitting independence and sovereignty of the country. He further said that industrial input cost is growing with every passing day and Pakistani products are becoming uncompetitive in the international market. He also urged the finance minister to pave way for getting rid of foreign loans and also restructure public sector enterprises that are eating up billions of rupees annually.
Lashari said that government should remove weaknesses of taxation system instead of implementing Reformed General Sales Tax (RGST). He said that approximately 30-percent taxes are being eaten up by the corrupt elements while the tax officials are misusing their discretionary powers. Instead of broadening tax net, tax official are utilising their energies to squeeze those taxpayers who are already in this net. He was of the view that government should lower the tax rate that would help broaden the tax net.
He observed that power theft is continuing in the name of line losses with the connivance of corrupt officials. He demanded the government to deal with the issue with iron hands. He stressed that government has to improve electricity bill collection system, otherwise, situation would worsen. He also urged the government to allocate funds for Kalabagh Dam in the federal budget 2011-12. He termed Kalabagh Dam a must to ensure availability of water to the agriculture sector and cheap electricity to both the trade and industry.
Concluding, PIAF Chairman said economic prosperity would remain a dream unless and until all the Pakistanis, irrespective of their status, play their constructive role. Pakistan at the moment is passing through most critical times of its history and in the present scenario the role of business community has become even more important.
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