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Home Lahore

Wealth Tax revival underlined to generate revenue

byCustoms Today Report
21/06/2014
in Lahore, Latest News
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HAFIZABAD: Different segments of the society including local politicians, social and labour workers have demanded the revival of Wealth Tax to improve economic condition and withdrawal of different direct and indirect taxes on essential commodities to provide relief to the common man, groaning under the yoke of unbearable dearness.

Addressing press conference Arshad Ansari, Muhammad Zaman, Amanullah Sandu, Malik Nazakat Ali Phularwan, Amanullah Chatha, Muhammad Hassan Shad and scores of labour leaders and small traders regretted that the PML-N government had disappointed the nation by imposing taxes of more than Rs300 billion on all essentials due to which prices of even milk, sugar, beef, mutton, poultry, pulses, fruits and vegetables, beverages, biscuits, cigarettes, LPG cylinders, sui gas and power tariff had increased by 10 to 30 percent, adding that there was no mechanism to check fleecing of the consumers at the hands of traders and businessmen. They feared that the prices would increase exorbitantly during the upcoming holy month of Ramazanul Mubarak.

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They regretted that the worst policies had badly affected the middle class not to speak of the poor, adding that the PML-N had deviated from its manifesto by not imposing Wealth Tax which had disappointed the electorates. They further pointed out that the direct and indirect taxes had badly affected 98 percent of the country population while the WT would affect only two percent rich people and would generate revenue worth hundreds of billions of rupees.

They declared that affective steps should be taken to prevent electricity and Sui gas pilferage and all-out efforts should be made to recover electricity outstanding arrears worth billon of rupees to overcome loadshedding problems so as to enable the daily-wagers and petty shopkeepers to earn their livelihood peacefully.

They also demanded unearthing such individuals who have no means of livelihood but had palatial residential houses, paying no income tax. Such individuals must have amassed wealth through unfair means and their properties should be confiscated, they maintained. They disclosed that in small city like Hafizabad there were hundreds of such people who had no visible means of income but they own vehicles, big property and enjoying luxurious living far beyond their means.

No doubt, terrorism, extremism and sectarianism were destabilising the county but it is a bare fact that the capitalists and some of the political leaders particularly those who amassed wealth trough unfair means, are great hurdle in the progress and well-being of teeming millions and causing lawlessness, they maintained.

They also called for decreasing the pay and other allowances of all the Senators, MNAs, and MPAs, by at least 50 percent because most of them belong to capitalists and feudal classes. Moreover, most of the Senators, MNAs, and MPAs always pledged before the elections that they would sincerely and selflessly work for the betterment of the masses, hence they do not need perks and allowances.

They further said that although dollar rate had been gone down appreciably, yet rupee had “less power” of purchase than the previous years. They questioned what benefit had been given to the common man by the decrease in dollar rate?

They also disapproved minimum wages fixed by the government and questioned that whether a small family of a couple and two kids can run its household with a paltry sum of Rs12,000 per month. They demanded increase in the minimum wages, otherwise, they feared, that the poor workers would turn to crime and unfair means to earn more or to commit suicide in sheer desperation.

 

 

 

Tags: direct and indirect taxeseconomic conditionessential commoditiesimposing taxeslabour leaderLahore Regionpower tariffTaxationWealth Taxwithdrawal

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