Pak economy depends on peace in Karachi: Sattar
The peace of Karachi is being disturbed because the trouble makers have political backing, and the prosperity of the country depends on the situation in Karachi. This was said by Muttahida Qaumi Movement (MQM) Deputy Convener Dr Farooq Sattar on Saturday while addressing a seminar on economical proposals for budget 2012-13 held by the Rawalpindi Chamber of Commerce and Industry (RCCI).
Dr Sattar said for peace in Karachi was necessary to take legal action against the troublemakers under the zero tolerance policy.
The MQM leader said they would present shadow budget at the end of April to help the federal government bring forth a people-friendly budget.
Focusing on power generation and better tax collection, Dr Sattar said the sovereignty of the country could only be kept intact through an independent and self-reliant economy.
Dr Sattar said to broaden the tax net, the government should increase the direct to indirect tax ratio from 32:68 up to at least 40:60.
The MQM leader suggested reducing sales tax rates from 16 to 12 per cent, reducing the maximum duty rates on imports to 10 percent with a minimum of five percent, curb under-invoicing, abolish the petroleum levy, reduce discount rates from 12 to 10 per cent, reducing the associated costs of devolution, and improving tax collection by the FBR.
Published in The Express Tribune, April 8th, 2012.
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Whether you like MQM or not, these suggestion should be implemented, what is keeping govt. from doing it. It just right thing to do.