27. 01. 21
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Balanced taxation regime must for national development
Industry holds 17 pc share in GDP but paying up to 73 pc taxes
The Pakistan Economy Watch (PEW) on Tuesday said the industrial sector is going down due to heavy tax burden which is blocking national development, revenue and employment.
Government continues to announce packages for the industry but avoid balancing the tax regime which is tilted towards non-productive sectors, it said.
The share of the industrial sector in GDP is 17 percent but it is made to pay taxes up to 73 percent while the combined share of trade and transport in the GDP is also 17 percent but it is paying only 1.2 percent tax, said Dr Murtaza Mughal, President PEW.
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21. 01. 21
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The Pakistan Economy Watch (PEW) on Wednesday supported the decisions of the government to tackle gas shortages amid a global LNG crisis.
Record hike in the price of super-chilled fuel due to biting winter and other issues has prompted many global suppliers to default on their commitments and Pakistan is no exception, it said.
Following the refusal of two suppliers to provide LNG to Pakistan for February the government has sought urgent tenders for gas deliveries to fill the gap.
The government has suspended gas supply to inefficient captive power plants to cope with the gas shortages which is a right decision, said Dr Murtaza Mughal, President PEW.
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12. 01. 21
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The Pakistan Economy Watch (PEW) on Tuesday said the business community is bunning high hopes on newly-elected President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Naser Hayat Maggo.
After years FPCCI got a president who has a vast experience and will to resolve the issues confronting traders and industrialists, it said.
He seems not to be very much interested in becoming a yesman of the government and will not waste all the time on useless meetings and photo sessions, said Dr. Murtaza Mughal, President PEW.
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02. 01. 21
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Mafia transferred trillions from pockets of poor to their accounts
Inflation broke all records, trillions wasted due to incompetence
The Pakistan Economy Watch (PEW) on Friday said the 2020 was stained with inflation, unemployment, and political as well as economic instability marred the year 2020.
The year was beneficial for influential mafia, profiteers, hoarders and politicians while it saw unprecedented inflation, unemployment, instability, lawlessness and tall claims, it said.
The wheat, sugar, poultry, pharma and other mafias transferred trillions from the pockets of the poor to their accounts while the tariff of electricity, gas, price of petrol and food further damaged the masses, said Dr. Murtaza Mughal, President PEW.
He said that masses were burdened with heavy taxes during the outgoing year while the practice of rewarding nobility through tax breaks worth hundreds of billions continued.
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