Finance Minister Ishaq Dar has asked the Federation of Pakistan Chamber of Commerce and Industry to make a bridge between the government and the traders for better coordination between the two sides help boost economic progress in the country. There is no question to challenge the minister’s words as cooperation and coordination between business community and the government — which regulates its policies through official machinery – is the most important factor to run the economic affairs. Almost 70 years ago, the Norwegians used to work in other countries, but they are now one of the most developed nations on the world map and is a welfare state. This happens because they protected the businessmen which consisted of only four families at the time. In Pakistan’s case, one cannot say for sure that all the businessmen are honest and pay their due taxes, but black sheep in the official machinery are hell-bent to pressure the business community on one pretext or the other. Those who pay taxes and those who do not pay anything are equally treated in this country and on some occasions the tax evaders are treated as VIPs and are given respect in every situation.
Mr Dar, in a meeting with officials of the Federation of Pakistan Chamber of Commerce and Industry and bankers, asked them to play an active role for the economic progress of the country and also join hands with the government to promote tax culture which is necessary as the government needs money to run its affairs. He said that the international rating agencies, including Moody’s, have given Pakistan positive ratings and it is the time to consolidate economic gains. No doubt Pakistan is 26th economy of the world with regard to purchasing power parity; it has to devise a mechanism where a businessman should be obliged to pay tax without fear.
The tax to GDP ratio in Pakistan is the lowest in the region and it needs to be increased. But witch-hunt and harassment of the business community should not be allowed at any circumstances. A taxpayer, whether small or large, should be treated with respect and be given special concessions. The country is facing a shortfall of Rs 40 billion, which it will try to collect by imposing more taxes on the existing taxpayers or by enhancing indirect taxes, adding more burdens on common man. According to experts, the government needs to introduce reforms to create business-friendly environment as well as it should diversify investment portfolio. The country is at the verge of economic take off and needs prudent policies to push it forward.
