PBF calls for taxpayer support, recommends export diversification

Pakistan, September 9, 2024: The Pakistan Business Forum (PBF) has pleaded with the government to support the taxpayer and help diversify the overall exports to stabilize the economy. In addition, the PBF also advised the traders and shopkeepers to ensure their tax incentives are paid to support the country’s economy.

The body further emphasized that taxpayers are the backbone of the economy. However, the tax they pay seems a burden compared to the limited incentives they get.

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The PBF president, Mr Khawaja Mehboob-ur-Rehman, stated that though revenue has risen by 29% compared to last year, the tax-to-GDP ratio remains at 8.8%, which is far below the recommended 15%. The president further emphasized promoting value-added industries, investing in technology, and improving trade relations with emerging markets.

He also said that political stability, improved infrastructure, and easy regulatory processes are essential to attract direct foreign investment.

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