Retailers not to accept turnover tax: Shahid Rasheed Butt

Islamabad, May 20, 2016 (PPI-OT): Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt on Friday expressed confidence over growth and sustainability of economy due to efforts of Government and Army.

The economic managers are burning midnight lamp to make a pro-growth budget as we had enough of austerity measures which has subdued growth, he said.

Shahid Rasheed Butt said that the authorities should focus on improvement of infrastructure and policy implementation to trigger economic growth and job creation.

He said that business community across the country is satisfied due to improved law and order situation but retailers will never accept proposed two percent tax on turnover.

He noted that low cost of petroleum products, single digit inflation, reduced mark-up rates, ongoing energy projects and economic corridor has boosted confidence of the business community.

There are some rules and regulations which need adjustment in the forthcoming budget to further boost confidence of the business community, he said.

The veteran business leader said that issue of export refunds should be preferred by the authorities which has is hitting external sector. Improved exports and creation of jobs are linked to the payment of refunds, he added.

He demanded that policies should be predictable and consistent which will improve the business environment as the real estate and financial services sectors continue to flourish.

For more information, contact:
Jahangir Akhtar
Secretary General
Islamabad Chamber of Small Traders and Small Industry
Office No, 9 Block E, Super Market, Islamabad
Cell: 0344-5111174