Sarhad Chamber of Commerce & Industry (SCCI) in its proposals for budget for financial year 2001-12 has demanded two years extension in the Prime Minister Financial Package for FATA/PATA and for expansion of tax to increase the revenue of the country.
The chamber in this connection has compiled proposals and recommendations for the development of trade and industry and revival of the economy. The draft of the proposals had been sent to federal government.
The proposals also include demand for the extension of Prime Minister Financial Package for next two years and instead of increasing burden on the existing taxpayers, it had stressed the need for bringing more people into tax net. It has also called for bringing agricultural and services sectors into tax net, relief for the terror and extremism affected Pakhtunkhwa, abandoning of the levy of Reformed General Sales Tax (RGST) and several recommendations for revival of trade and industrial sectors of the province.
Usman Bilour also disclosed that Prime Minister, Yousuf Raza Gillani has agreed with the proposal of extending the Financial Package, providing relief to the business community of KP, for another two years. In this connection, a committee would also be constituted, he added.
Speaking on the proposals and recommendations of the chamber, president, SCCI, Usman Bashir Bilour said that like past the chamber has once again given proposals for the promotion of trade and industrial activities in the terrorism affected province. The proposals, he said have already been sent to federal government, saying that inclusion of the their proposals in the federal government would help stabilise the economy of the province.
Usman Bilour said that they are in favour of the expansion in the tax net and demanded the inclusion of agriculture and services sectors in the tax. He said that the inclusion of new taxpayers would help increase the revenue of the country and will help minimise burden on the existing taxpayers.