Islamabad: Jan 09, 2022 (TNS): Executive Member Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Pakistan Cotton Ginners Association (PCGA) Malik Talat Sohail, while rejecting 17% sales tax on open and cotton in Money Budget 2021 Already applied to oil. 17% Sales tax is unenforceable and in our position the Minister of Food Security, the Minister of Finance and the FBR have agreed that it will be abolished soon.
Instead of abolishing the sales tax on oil, the inclusion of residual by-products made of cotton in the sales budget in the mini-budget is to discourage the production of cotton altogether.
The government is deliberately obstructing cotton production in Pakistan, which is now recovering.
There is a possibility of significant reduction in cotton production due to unjust taxes and those who do not want to pay taxes and do business through black economy will be encouraged and instead of increasing revenue, round goods sellers will be encouraged. Has been
Rations were sold through ration cards in the 70’s and now unfortunately in Pakistan which is an agricultural country fertilizer distribution is being done by lining up farmers through cards. Urea fertilizer and DAP have increased by 50% and 125% respectively in one year.
Like the sugar mafia, the fertilizer mafia is sucking the blood of fertilizer makers and hoarders. The government is neglecting agriculture and despite being an agricultural country, Pakistan is losing billions of dollars by importing food grains and cotton. Due to which the people are falling into the mill of poverty. He said that increase in tariff of WAPDA and increase in markup under SBP’s monitoring policy was creating obstacles in the way of industrial development. Go
Gas cuts to industries are also hampering growth and causing unemployment.
Unfortunately, the government has failed miserably in all areas of agriculture, industry and economy. He demanded that all taxes levied on Pakistan, especially for the betterment of agriculture and cotton, should be abolished so that the country could move forward.