Articles and letters may be edited for the purposes of clarity and space. They are published in good faith with a view to enlightening all the stakeholders. However, the contents of these writings may not necessarily match the views of the newspaper.
SCP judgment on super tax
The Supreme Court of Pakistan in their wisdom passed a judgment that Super Tax on large scale industries be restricted to 4% instead of 10%. The IMF and other international financial institutions and our own eminent economists have stated that the Federal Government must raise revenue through direct taxation on all sources of income, above a threshold, instead of indirect taxation which uniformly impacts both the poor and affluent. Pakistan today is on the brink of financial bankruptcy with imminent default, yet it seems the Elite Capture continues to prevail.
A Super Tax was levied last year by PM to increase revenue through direct taxation on 13 large scale industries, with annual income exceeding Rs150 million in a year, with retrospective effect from July1, 2021. The target was to achieve about Rs215 billion to Rs247 through super tax.
In Norway the employers share to sustain social security benefits is 14.1% which increases to 19.1% for income exceeding 750,000NOK in a year. In 2023 the Norwegian government has proposed for companies to pay 22% tax, in addition to high income tax paid by individuals.
The superior judiciary in Europe has restrained from matters involving tax levied on super rich individuals and companies. They do however intervene to grant relief to poor and unemployed, especially senior citizens. In Pakistan, where there exist no social security welfare schemes for the most deprived sections of society, the National Saving Centre, levies almost 30% on non-flier’s bare minimum profits they receive to survive, by investing their lifelong savings.
Even profit from Pension Benefit Scheme and Behbood Saving Scheme, eligible only for senior citizens is subject to Withholding Tax ranging from 10% and above if the amount exceeds Rs0.6 million in a year, whilst the paid elite pension is free from taxation, even from those getting over Rs6 million annually.
MALIK TARIQ ALI
Lahore
Total mix ration
Livestock is an integral part of agriculture sector, and Pakistan ranks 4th in the world for its goat population, with approximately 80.3 million heads. Despite this, the growth potential of native breeds is lower than global meat goat breeds, which can be attributed to the traditional extensive production system and low concentrate feeding. To address this, a trend for intensive goat rearing has emerged, though this is often hindered by fluctuations in feed quantity and quality.
Recently, raising sheep and goats on high-concentrate diets like complete pelleted diets (CPD), has become increasingly popular due to its maximum growth potential with minimum labor. Straw-based CPD is an innovative technology that provides balanced supply of feed. The potential of high-grain straw-based CPD in long-term fattening, as well as the effects of different levels of neutral detergent fiber in the diet with different dietary transition periods, is still unknown.
To assess the potential of CPD in goats, a series of experiments were conducted. Beetal male goats were reared for 91 days on a diet comprised of 15% oat straw and 85% concentrate, with 4 and 8 mm straw particle size. In another study, animals were reared for 77 days on low and high NDF diets, with 7 and 15 transition days.
Results showed that increasing the particle size of straw in high grain CPD and fattening goats transitioned at day 7 fed on a high NDF diet improved growth performance, intake, digestibility, feeding behaviour, reduced diarrhoea and higher meat percentage and marbling score. Overall, goats fed on CPD gained 200 gram weight per day. This research is useful in bridging the gap between conventional and modern feeding strategies.
AWAIS KHURSHID,
DR AFZAL RASHID
Lahore
Inflation
Inflation means a rise in prices for some time or for a longer time. Inflation is related to the economy of any country. The whole world, especially under-developed countries, are facing this problem. It is due to the Russian attack on Ukraine. When war started between Russia and Ukraine, the prices of oil and gas increased in the world market. With the rise in prices of oil and gas, other items are also being sold at high prices. The dollar is flying into high rates in the world market. The American dollar is considered to be the safest currency in the world. So, in times of crisis people start converting their currency into dollars.
The businessmen earned a handsome amount from this, but job holders and middle class people are facing critical issues. According to a survey, if this situation continues, Pakistan would default. The government of Pakistan should take solid steps to reduce poverty. If everyone plays his role sincerely we will be able to save our country from inflation.
FARIHA TAFOOR
Lahore
Box letter
Petroleum prices
The country is facing an acute shortage of petroleum due to the dwindling oil reserves and political instability. As petroleum left in the country is only for 18-20 days, this has led to skyrocketing prices, causing significant hardship for the average citizen. It is high time for the government to take serious measures to address the energy crisis in the country. One solution could be to invest in alternative and renewable energy sources such as solar and wind energy. These sources can help reduce the country’s dependence on petroleum and provide a sustainable solution to the energy crisis. Moreover, the government needs to ensure that the available petroleum resources are utilized efficiently and transparently.
The petroleum sector must be managed effectively to reduce corruption and increase accountability. The high petroleum prices have had a severe impact on the economy which is already struggling with inflation and unemployment. The government needs to take immediate steps to provide relief to the people by reducing taxes on petroleum and other essential items.In conclusion, the current petroleum crisis demands urgent attention from the government. We need a sustainable and long-term solution to overcome the energy crisis and achieve economic stability. It is time for the government to take decisive action to address this critical issue.
HADIA ANWAR
Lahore
