The Pakistan Economy Watch (PEW) on Thursday criticised the new taxation measures introduced in the budget 2013-14, saying it will open floodgates of inflation and corruption.
“Revised sales tax (ST) rate from 16 percent to 17 percent will add to the miseries of dejected masses therefore this decision merits revision,” PEW President Dr Murtaza Mughal said.
Contrary to the claims of the new government, the budget offered no relief for general public which would see a hike in prices of all commodities within days, he added.
Dr Murtaza Mughal said that the upward revision in the tax rate indicated that the government was in no mood to uproot corruption or widen the tax base to augment income.
Mughal further said that the government had not imposed any ST on rice or wheat flour but it would impose it on sugar which was an important kitchen item.
He said that increased ST would not help the government raise a lot of revenue but it would add to illegal income of tax officials as the augmented ST had a direct relation with evasion. There was no ST on sugar in India but excise duty of one rupee per kg, he said.
“Government has claimed to settle circular debt in 60 days but not informed how it plans to do so,” he said.
tht is ridicolus … just wait and see …. everyone tries to be financial analyst and consultant on budget …
‘experience’ it is… 😛
Short term (1 year); No.
Long term (<1 year); Yes.
.
Inflation dengue …
Karachi stock index is no relief …
.
tht is ridicolus … just wait and see …. everyone tries to be financial analyst and consultant on budget …
'experience' it is… 😛
Budget is a shame for PML N No money for the masses but taxes but rich will pay nothing where the money will come i.e. TAX without tax country can not exist and its doom to fail this very budget is an early signal of PML N failure. I DARR is not an economist no doubt he is an accountant. He did practice in UK in Poineer Market where Nawaz Sharif is constructing huge building complex with many flats consisting of many floors A highest building in Ilford, Essex where that money came from Public of Pakistan should ask this question to both Nawaz Sharif and also I. Darr.
Short term (1 year); No.
Long term (<1 year); Yes.
and what about the misery of the poor who can hardly eat once a day…what a budget which left the rich out..easy money for the gov but plenty of cruse from the poor.. the gov did not do much home work .signs are not good for this gov…
and what about the misery of the poor who can hardly eat once a day…what a budget which left the rich out..easy money for the gov but plenty of cruse from the poor.. the gov did not do much home work .signs are not good for this gov…
Comments are closed.