President Hyderabad chamber of Commerce and Industry Muhammad Saleem Shaikh has emphasized the need for enhancing the tax net in order to achieve the revenue collection targets, adding that increase in sales and federal excise duty in the Budget 2019-2020 could put more burden upon those who are already paying taxes of various kinds.
In a brief chat with media persons here at HCCI secretariat after the budget speech of State Minister Hammad Azhar, he said that the government has set revenue collection target of Rs 5555 billion but no details have been provided regarding achievement of this gigantic task. He said that the worst financial crunch which is being experienced by the government was undeniable fact but recommendations of enhancement of taxes on daily use items could bring the life of common people miserable. The government should generate income by enhancing the tax net and giving incentives to those who are already contributing to the national treasury, he added.
Former Senior Vice President HCCI Turab Ali Khoja said that though the huge budget deficit clearly indicating worst financial condition, but the government should consider more options of revenue generation instead of enhancement of taxes on daily usage items as it could become beyond the reach of common people.
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