Business community announced to fully support massive crackdown on "Benami Asset" across the board throughout the country besides introduction of documented economy.
Pak-US Business Council Founder Chairman and the FPCCI's United Business Group (UBG) Central Chairman Iftikhar Ali Malik Monday expressed these views while talking to delegations of traders here today. He said that the good thing is that the country's business community reposed full confidence in the dynamic leadership of Prime Minister Imran Khan and much optimistic that the incumbent government has full potential and firm commitment to drive the country out of present economic crisis. Shedding light on the recent amnesty scheme, he said that people's response to this scheme was much positive as compared to the past schemes and 137,000 got themselves registered and deposited Rs 70 billion in taxes.
He said that amnesty scheme would help put the economy on sound footings; thus, lessening the burden on existing taxpayers. He said that Pakistan was the 6th largest country in the world and hardly one per cent of the population was paying taxes. "One percent Pakistanis are bearing the burden of 220 million people. This is impossible," he said, adding "No country can serve its people if tax-evaders are not brought under tax net." The mobilization of domestic resources through reforms in taxation is essential to ensure sustainable financing of development as government would not depend on foreign loan.
Appreciating initiatives of FBR Chairman Shabbar Zaidi, Malik said the business community and the FBR have the same goal, which is to increase revenue and business in the country. Hence, all issues should be resolved through a conducive and friendly environment," he said. The policymakers and the FBR have fulfilled their moral responsibility by affording another opportunity to the people in the form of a tax amnesty scheme.
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