On Friday, the Chairman of National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said the taxable income limit should be increased by at least one hundred percent.

Inflation is at 35 percent while food inflation has hit the mark of 47 percent. Therefore, he said taxable income should be increased from one hundred thousand rupees to two hundred thousand rupees.

Expanses of people have increased many folds, and inflation and currency erosion have become uncontrollable. Therefore, the limit of taxable income should be increased, he added.

Mian Zahid Hussain said that the salaried class plays an important role in the country’s economy. Still, the same class suffers from inflation, which should be relieved.

Talking to the business community, the veteran business leader said there are lobbies to protect the interests of traders, industrialists, producers and farmers. Still, there is no voice for the salaried class paying many direct taxes.

Mian Zahid Hussain said that in a country where no one likes to pay taxes, heavy taxes are collected from the salaried class, while salaried people are being taxed up to thirty-five percent. Professionals are taxed at 25 to 30 percent, while if general sales tax, petroleum levy and other expenses are added, this tax exceeds to over 50 percent, he observed.

He noted that businessmen transfer the burden of increased expenses to the public or fire employees, while salaried employees have no such facility to reduce their expenses.

The business leader said that skilled people and professionals get up to six times more salary than Pakistan in the Arab countries. Therefore, people are fleeing the country in record numbers.

This is an irreparable loss for the country, but our policymakers are not ready to understand the implications of this matter. In addition, the exodus can lead to reduced taxes and the problem of non-availability of manpower for industries and other business sectors, which will seriously blow the economy.

He said that all the rich countries, including Arab countries, have developed by understanding the importance of developing human resources. At the same time, Pakistan does not pay any attention to this important sector.