General

United Business Group demands relief package for poor in budget

Karachi, May 26, 2016 (PPI-OT): The United Business Group (UBG) of FPCCI on Thursday demanded of the government a relief package to provide relief to poor and low income groups. The upcoming budget in the backdrop of a healthy growth rate, significant bounty from oil price fall and a general perception of a stable economy in the wake of global economic uncertainty warrants some relief for the poor, it said.

The government should provide some cheer to vulnerable by abolishing taxes and surcharge on the electricity bills up to Rs3000, said Zubair Tufail, Secretary General UBG. Speaking to the business community, he said that allocations for the programmes initiated for the welfare of poor should be increased to cover move population living below the poverty line.

Zubair Tufail said that the level of taxable income should be increased from the current level of Rs400,000 to Rs600,000. He said that existing taxpayers should not be burdened, rather tax net should be expanded to bring at least 500,000 people in the tax net for which FBR officials should initiate serious efforts as it is a matter of survival.

A million people have filed returns among which four hundred thousand people have declared their income below taxable limit while the number of those who paid Rs50,000 or more as tax is in thousands, he noted. It is disappointing that many of the well-to-do are not ready to discharge national obligation by paying taxing which can reduce gulf between rich and poor, he said.

He said that unemployment has touched dangerous proportions which demands revolutionary steps in the budget to lure investors towards industrial sector which can reduce unemployment and generate revenue. It is our responsibility to support those entangled in deep poverty, he said.

For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426