Return of loans
Mostly businessmen run the business with loans. Very a few people begin business with their own money. Large scale businesses like mills, industries and big projects need huge money and banks encourage the businessmen in this regard. Sometimes government also instructs the banks for issuing the small and big loans to the people willing to start business. So banks start campaign to educate and inform the farmers, traders, businessmen, industrialists about the purposes, processes and benefits of the loans and resultantly the businessmen take the loans on conditions set by the banks and start their business. Now the people, who are reaping the fruits from their business started by the loans, should return the loans honestly to respective banks to make them equipped with liquidity for other needy businessmen. It is the moral duty of the beneficiaries to take the initiatives and come forward and now they should launch a campaign for businessmen for returning of the loans. In this connection the former president and CEO of Sonari Bank, Safar Ali Lakhani has advised the business community to return loans taken from banks on time in their own interest and that of the banks. He was speaking at a dinner hosted by Honorary Consul General on Mozambique Khalid Tawab, he said that no bank would like to go for litigation with his clients for recovery of loans and confiscate their property. Every bank is interested to have good relation with his clients and provide maximum facilities, he added. He was talking about his own bank's loans but the loans taken from other banks of country should be returned. Government should take remedial measures for the revival and strengthening of the national economy. There are numerous reservations on imposition of reformed general sales tax (RGST) in the public. Government will have to change its priorities to rescue trade and industry which is facing various problems including increasing cost of production. Businessmen's concern over imposition of RGST should be resolve amicably. To help the ailing economy there is need for austerity measures by the Government. Experts are suggesting the imposing income tax on agricultural income which will help generate Rs 500b additional revenues.