PESHAWAR: President Pakistan Businessmen and Intellectuals Forum and former provincial minister Mian Zahid Hussain has lauded Finance Minister Ishaq Dar for accepting some of the tax proposals by the business community.
Withdrawal of some new taxes while relaxations in the others will improve the image of the government and infuse confidence in the business community, he said.
Sales Tax (ST) has been abolished on the poultry feed and reduced on the drinks as well as oilseed while customs duty on oilseed has been eliminated, he added.
Mian Zahid Hussain said that income tax relaxation to local mobile manufacturers and encouraging industry to import machinery on lower costs will help industrialization, generation of taxes and jobs.
He said that the relaxation granted to Khyber Pakhtunkhwa has been expanded to the province of Balochistan while sales tax on insecticides has been reduced and 20 billion rupees have been earmarked for fertilizer subsidy which will help agriculture sector if used properly.
Likewise, an additional four percent hike in the salary of government servants is a laudable move while 0.6 percent withholding tax on unregistered bank transactions has not gone down well with the business community.
