Home / Business / Inflation should not be allowed to become a threat to government: PEW

Inflation should not be allowed to become a threat to government: PEW

Islamabad:     The Pakistan Economy Watch (PEW) on Sunday asked the authorities to control inflation lest it becomes a problem for the government. Profiteers should be dealt with an iron hand as they have crossed all limits to bleed masses white as the country is moving from medium to high inflation, it said.

The government is trying to increase revenue but reforms in the tax administration are equally important which should not be ignored, said Dr. Murtaza Mughal, President PEW.He said that agriculture sector is almost twenty percent of the GDP which should be brought into the tax net while documentation of this sector is necessary as it has become a safe haven for the tax cheats, he added.

Dr. Murtaza Mughal said that last year the government collected almost Rs4 trillion in revenue while increasing it to Rs10.5 trillion by 2024 will be a challenge. He said that a hundred percent documentation of the economy and hundred percent control over smuggling are ambitious targets which have not been achieved by any country.

Lauding the action against benami accounts he said that ninety-nine percent of such accounts are being operated by the business community which should be dealt sternly.He said that the business community is protesting tax measures to get relaxations while the government has decided to implement all the decisions in letter and spirit in the national interest.

Check Also

Concern expressed over rising poverty

ISLAMABAD:    Poverty is rising at a rapid pace in Pakistan which can push millions …