Dar's de­ter­mi­na­tion on bank trans­ac­tion tax lauded

The Pak Banker - - COMPANIES/BOSS -

KARACHI: The Pak­istan Econ­omy Watch (PEW) on Tues­day lauded the de­ter­mi­na­tion of Fi­nance Min­is­ter Ishaq Dar on the is­sue of im­po­si­tion of with­hold­ing tax on bank trans­ac­tion terming it a great move. The stead­fast­ness of the gov­ern­ment will help Pak­istan emerge as a sel­f­re­liant na­tion in the long run which must be ap­pre­ci­ated, said Dr. Mur­taza Mughal, Pres­i­dent PEW. In a state­ment is­sued here to­day, he said that the strikes of traders are be­ing backed by frus­trated politi­cians, black sheep and bil­lion­aire traders who don't want to dis­charge na­tional obli­ga­tion by pay­ing taxes. He said that trade as­so­ci­a­tion are di­vided over the is­sue which has in­creased chances for the gov­ern­ment to achieve the noble ob­jec­tive. Dr. Mur­taza Mughal said that FPCCI has changed its stance over the is­sue of WHT which has fur­ther dented its cred­i­bil­ity. He said that traders should not block the ini­tia­tive of the gov­ern­ment to sta­bilise the econ­omy, adding that they are ready to bribe tax of­fi­cials but not will­ing to pay tax which is amaz­ing. Why the traders are not pre­pared to show their as­sets and in­come if they are on the right path, he ques­tioned. He said that rich are not ready to pay taxes there­fore gov­ern­ment has to rely on in­di­rect taxes which trig­ger poverty in the coun­try. Dr. Mughal de­manded of the gov­ern­ment to col­lect tax from politi­cians, land­lords and pro­fes­sion­als while mak­ing tax re­turns easy for the small traders so that they can easily pay their due.

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