Friday, November 12, 2010

New taxes to demolish economy: Farooq

New taxes to demolish economy: Farooq

ISLAMABD: The leader of MQM, Dr. Farooq Sattar issuing warning to government regarding imposition of Flood Surcharge and RGST, said Thursday that MQM would vote against the Taxes’ Bills in parliament if his party’s recommendations were not given the due consideration, Geo News reported.

According to the discussions his party held with Economic Experts and Industrialists, imposition of such taxes would be akin to hammering the last nail in the coffin of already limping economy of Pakistan, he said.

The minister argued that RGST and Flood Surcharges would bring the economy of Pakistan on the verge of complete destruction.

To a press conference after meeting with Finance Minister Abdul Hafeez Sheikh and the Production and Industries Minister Naveed Qamar, Dr. Farooq Sattar said his party was making all-out efforts to unveil the hidden conspiracy of government in terms of price hike of daily commodities.

“After MQM voiced strong concerns over imposition of RGST, Flood Surcharge and incessant inflation, the government has shown its willingness to pay heed to the problems of masses,” he said.

Federal ministers have given assurance to make available sugar at old prices in open markets, the minister assured adding that government has agreed upon holding open discussions on consequences of Flood Surcharge and RGST after Eid-ul-Azha before she imposes it.

Farroq Sattar said: “Actually, RGST is a new form of Value Added Tax (VAT) and MQM has demanded government of imposing Flood Surcharge on big feudal lords first.” 

MQM has proposed government to provide people relief by minimizing levy taxes on PoL products, he maintained.

With only 25 votes in National Assembly, MQM has not claimed to bring reforms on a large scale but it would surely make every possible effort to relieve people of deadly inflation in the face of prevailing tough situation, Sattar vowed.

No comments:

Post a Comment

BLOG DIRECTORY, Submit blog free, Promote Blog, Best directory