Businesses express mixed reaction: PCGA demands withdrawal of five percent sales tax on oil-cake

Five percent sales tax on oil-cake be withdrawn to save the livestock sector, demanded Pakistan Cotton Ginners Association (PCGA) at a meeting. Asim Saeed Sheikh Vice Chairman of PCGA has said that association has rejected the 5 per cent tax on cotton describing it detrimental to cotton economy. This levy would hit the growers as well as the ginners.
He said that this proposal was repugnant to ground reality. He said that only influential APTMA was obliged in this budget at the cost of basic stakeholders. Khawaja Muhammad Jalaluddin Roomi former Punjab minister for industries said that levy of 5 per cent GST on cotton and tax on dividend and capital gain tax would have negative impact on the market and government should review these proposals otherwise it would have serious repercussions on Pakistan's economy.
While Business Community of South Punjab has expressed mixed reaction on the budget for 2014-15 describing it as balanced and successful while President of Multan Chamber of Commerce & Industry (MCCI) Khawaja Muhammad Usman said that it was mere a jugglery of words to hoodwink the people and Southern Punjab was totally neglected in this budget as no mega project was mentioned for this neglected and backward region.
Mian Iqbal Hassan senior member of MCCI said that there was no truth in his claim that general sales tax was reduced to ten per cent from 16 per cent on tractors. He said that tractor industry was already paying 10 per cent GST. He asked who will pay Rs 12,000 to industrial workers while they could not get their wages according to previous announcement. Muhammad Anees Khawaja hailed the national budget for 2014-15 describing it balanced and incentive oriented.
He said that textile sector was playing a key role to increase the exports and to achieve the target of $25 billion dollar. PML-N leaders Senator Malik Rafiq Rajwana, Malik Abdul Ghaffar Dogar MNA, Bilal Butt District President, Sheikh Athar Mumtaz General Secretary, Rana Mehmood-ul-Hassan ex-MNA, Sheikh Tariq Rasheed ex-MNA, Begum Shaheen Shafiq MNA, Sultan Shaheen, Begum Khaula Amjad MPAs said that for the first time in history of Pakistan the government has earmarked huge amount for ending energy crisis and building inter provincial highways.
They said billions of rupees have been allocated for health and education while Rupees 63 billion for overcoming crisis of Universities it reflects government education friendly policy. The government also has taken measures to overcome unemployment. We congratulate the government and hope that government would continue its efforts for the uplift of the people. They congratulated Prime Minister Nawaz Sharif, Finance Minister Ishaq Dar and other government officials for presenting a successful budget.