Islamabad: The Pakistan Business Council (PBC) on Wednesday recommended that the government should work on reducing the cost of business through the upcoming Budget 2020-21 in order to facilitate both small and medium-sized enterprises (SMEs), a news source reported.
In an online seminar held by the Sustainable Development Policy Institute (SDPI) to discuss the issues surrounding Pakistan’s economy, PBC Resident Director Saud Bangash said that considering prevailing situation of Pakistan economy, the best way to help the affected businesses is to lower the sales tax and reinstate the zero-rated tax regime for export-oriented sectors – which will also help reduce cost of businesses.
Karachi Chamber of Commerce and Industry (KCCI) former Senior Vice President Ibrahim Kasumbi recommended that the electricity tariff should also be reduced to pass on the benefit of lower oil prices to the consumers. He further went on to say that the incumbent government should focus on bringing the informal sector into the tax net.
