KATI demands similar tax regime for all industries
KARACHI: President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan has demanded the government should ensure a similar tax regime for all industries in the upcoming budget. In a statement released by KATI, he mentioned that there was a long history of providing tax relaxation and unnecessary benefits to particular classes on the cost of national interest, and urged to end up any such special status for chosen sectors and make a simple and easygoing tax system, which would be applicable to all industries and businesses. Sheikh Umer Rehan said the biggest hurdle in the way of industrial growth was increasing production cost, which could be reduced by lowering energy and raw material prices. President KATI said the economy was going south, while the business community could not bear any s additional tax in the upcoming budget. “Government should consider all suggestion and reservations of industrial and business community while preparing finance bill for next financial year,” he urged.