Multan: In the meeting of the taxation sub-committee of the Chamber of Commerce and Industry, Multan, it was decided to introduce the budget proposals to the relevant institutions including the Government by March 3. A meeting of the Chamber of Commerce Sub-Committee on Taxation was held under the chairmanship of Convener Khawaja Sohail Tufail.
The President of the Chamber of Commerce Mian Rashid Iqbal, Sr. Vice President Nadeem Ahmed Sheikh, Vice President Sheikh Muhammad Asim Saeed, Zafar Iqbal Siddiqui, Talat Javed, Waqas Khalid, Ehtshamul Haq, Bakhsh Elahi, Anwar Saleem, Aurangzeb Alamgir, Muhammad Usman, Umair Saeed, Muhammad Arshad and Committee Secretary Sajid Ansari participated in the meeting. It was agreed to finalize the draft soon to send the proposals and it was decided to issue the budget proposals by March 3. In the meeting, the increase of one percent sales tax in the recent mini budget and tax issues on marriage, community halls and other events were discussed. Sohail Tufail while addressing said that in the budget proposals, made part of the draft to solve the problems faced by various sectors and to improve the taxation matters. President Mian Rashid Iqbal while addressing said that the government should create categories for the implementation of sales tax on services as in the world. Sales tax is divided into medium, low and minimum input categories according to the input. He said that the government should avoid unenforceable laws and collect tax on pure services. Effective measures should be taken and barter trade system should be implemented for trade with Iran and Afghanistan. Sheikh Mohammad Asim Saeed said that increasing the policy rate by 2 percent will have a direct impact on the cost of doing business, as a result of which investors will lose money from business. The government should also reconsider this decision.
Staff Reporter
