KARACHI - The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday said super tax was imposed for one year but it has been extended for the third consecutive year in the budget which is discouraging investors.

This tax was imposed for one year in 2015 to help settle people displaced in the war against terror. The sacrifices of Army have restored peace and over ninety percent displaced people have returned to their homes, therefore, an extension of the super tax is unjustified, it said. Many Senators and Parliamentarians representing opposition and government have voiced against this controversial tax while 193 companies working in Pakistan have also called for the discontinuation of this tax which must be considered, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries. He said that super tax must be abolished to encourage foreign investors who have expressed their concerns repeatedly. Atif Ikram Sheikh also lauded masses for launching a successful campaign on social media to boycott profiteers. It resulted in reduced prices of fruits in many major cities of the country but the impact seems temporary.

The first ever such campaign in the history of the country is praiseworthy but common pushcart owners were caught in the crossfire between masses and profiteers, he noted.

He said that if masses have to act to reduce the skyrocketing prices than what is the function of state and administration which is frequently blamed for collusion with the profiteers.

The government should take action against profiteers to provide relief to the masses in this holy month, he demanded.