President Pakistan Businesses Forum (PBF), Sahibzada Mian Usman Zulfiqar has said that masses and businesses are struggling with rising inflation, higher unemployment and the economic damage caused by the pandemic were at glance. In this regard uniform taxation could be vital for government to increase their revenues so that it can be injected in our economy.
Speaking to an online seminar, “A new trade order after post covid-19” on Monday, he said government may also take immediate and meaningful steps to increase credit to the private sector – such as through tax incentives. “Private sector credit in Pakistan is currently at just 18.8% of GDP, versus 50% in India”. More credit to the private sector will have a multiplier impact on GDP growth. Our exports have not changed much since the Indus Valley Civilization traded cotton and grain with Mesopotamian empires over 5,000 years ago”.