Pakistan Industrial and Traders Associations Front (PIAF) on Friday urged the Punjab Chief Minister Shahbaz Sharif and Federal Finance Minister Ishaq Dar to announce more incentives for the promotion of economic activities. The PIAF Acting Chairman Khamis Saeed Butt in a statement said that the government's decision to convene business community meeting is a welcome step that would further strengthen the trust of private sector with government.
He said that the private sector always ready to supplement government efforts aimed at economy revival. He said the government should review its three-month gas suspension plan in the larger interest of the economy. While inviting the attention of the minister towards complex taxation procedures, the PIAF acting chairman said that difficult-to-understand taxation documents are the biggest impediment to government measures for expansion of tax net.
He said that the existing procedures were not only promoting corruption but also keeping a large number of small businessmen out of the tax net. Butt said that once the existing high rate of GST is revised downward, it would not only be enabling the government to get more revenues but also give great help towards promotion of tax culture in the country.