Advisor to Sindh Chief Minister for Excise and Taxation M A Jalil has called upon the industrialists to prepare memorandum of recommendations for making a viable budget in order to boost-up industrial investment in Sindh. He said this while addressing the "pre-budget conference 2005-2006" organised by the Institute of Cost & Management Accounts of Pakistan (ICMAP) in collaboration with the Kotri Association of Trade and Industry (Kati) concluded on Saturday at Kotri.
The advisor said that the aims to organise such pre-budget conferences were to collect suggestions, comments and technical views of representative organisations, like agriculture, industry, commerce, chamber, taxpayers, experts and other stakeholders so that the government could formulate a satisfactory fiscal year budget for the people of all quarters.
He observed that the budget should be focused on growth, attract investment, generate employment, control inflation, which were key hindrances in the economic development and poverty reduction.
Expressing his gratification, he said that the inflow of Foreign Direct Investment (FDI) had registered 52 percent increase during the first seven months of current fiscal year over the same period of last year.
He said that the work had been going on the one-window operation in the department of Excise & Taxation, which would facilitate the traders and investors to pay their taxes through one challan form for more than one taxes.
President Sindh Abadgar Board Qamar-uz-Zaman Shah addressing on the occasion demanded that the government should reduce input cost on fertilisers as their much more high cost caused to increase prices of wheat, rice and other crops.
Tariff Ballot, Senior Vice Chairman KAT1, talking on the occasion, said that Sindh needs to improve infrastructure regarding the installing and boosting up industrial investment. He urged to reduce 5 percent duty on textile machinery and to reduce tax on public companies from 35 percent to 25 percent.