KARACHI: Chairman PCETA Ali Ashraf Khan declared IMF loan as peanut which is more than enough to open eyes of nuclear State Pakistan. Hashmat Habib President Tehreek-e-Tahafuz-e-Adlia 100% agreed with the latest views of Ali Ashraf Khan Chairman Pakistan Commercial Importer and Towel Association but the Aristotles’ of our economy are keeping their mind closed for the reasons perhaps they want to take Pakistan to a stage of no return.

Hashmat Habib said the statement of Ali Ashraf Khan is not only thought provoking but also demonstrate almost real picture of our economy, therefore, the entire Nation should be alert otherwise disaster, and complete disaster may be definite result of poor governance of government.  He said instead of increasing general sales tax rate we should take guidance from Islamic system of Zakat that should be not more than two and one half percent of the income and all traders should pay it out of their profit not from the pockets of end users. He said the illogical increase in GST rate will reduce revenue instead of estimated collection but in case this is linked with Zakat system, religious obligation as well, the revenue will be increased rapidly.

Hashmat Habib said imposing general tax with the confidence that businessmen will pay it voluntarily doors of corruption will also be closed. He said high rate of tax opens the floodgates of corruption; therefore, our Nation should be left with the confidence that they will pay it if reduced to two and half percent then we will save heavy revenue on expenses of the departments on the one hand and on other hand Nation will grow as honest Nation, the senior lawyer added.

Published in The Daily National Courier, February, 21 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.