LAHROE – The Federation of Chamber of Commerce and Industry acting president Sheikh Abdul Wahid Sandal has said that the sales tax should be reduced to the level of single digit in the upcoming budget 2012-13.
He was addressing a meeting here in Regional Office Lahore. He said that taxation system is very lengthy and it is necessary to make it easy. Refund system has become a cause of corruption and govt should change it. Tax net should be broadened and no new tax be imposed.
He said that government must take solid measures to avoid budget deficit which harms national economy every year.
He added that govt must allocate funds to control energy crises. He said housing and cooperation is a second largest industry in Pakistan but it is facing many problems due to insufficient facilities. Azhar Hashim Rizvi, Abdul Razzaq Khan, LtCol (R) Naqeeb Amjad Malik, Nadeem Bhatti were also present in the meeting.