Tax exemptions go beyond further concessions to the agricultural sector, KATI

President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman said that the government has exempted a large sector of the economy from tax, while big landlords are being given more concessions which are doubtful. He said that despite giving privileges to the powerful landlords, there is a shortage of commodities in the country, and vegetables and fruits are far from the reach of the common man. President KATI said that the government is not interested in giving incentives to industrialists and exporters, rather increasing the tax burden has become the norm. He said that it is impossible to run any industry during increasing production costs, dollars and very expensive loans, in such a case, giving more incentives to the agricultural sector will make the economic crisis worse.

Faraz-ur-Rehman said that if the concessions given to the agricultural sector are available to industrialists, not only can revolution be brought about by exports and industrialization in the country, but the country’s income can increase many times. Expressing regret, he said that the government has no policy for the industry, however, the same policy is being followed for many decades in the agricultural sector, especially for landlords and vendors, which makes landlords richer and farmers poorer, even after 70 years, there is no happy situation.

President KATI said that the government should take tough decisions in the current economic crisis and tax those who get unaccounted profits from the agricultural sector. Otherwise, putting the entire tax burden on only a certain section will bring the economy to the brink of collapse.

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