The overwhelming majority of the industrialist community is not paying taxes with honesty. Only the salaried persons pay their taxes because they are deducted at source.
The industrialists are using various tactics for tax evasion from the government. Many are floating their substandard products into the market without mentioning the names of manufacturers, their addresses or even tax registration details. Nonetheless, these products are in a huge number in the market. All is being done for tax evasion and to mint money.
The industrialists are also not sharing their profit with workers sincerely. In this regard, I suggest the federal government to increase the ratio of profit to 50 percent to be distributed among the workers as most of the agriculturists are doing with their farmers particularly in Sindh. Besides this, the industrialists are also not providing all facilities to their workers as envisaged in the law in order to mint the money.
I suggest the federal government to take bold steps against the common practice of tax evasions by the industrials, particularly in Karachi without bowing to their usual blackmailing tactics.
It is an undeniable fact if only industrialists pay their taxes with full honesty, Pakistan would get rid off all its foreign debits very soon.
MOHAMMAD KHAN SIAL
Karachi