Call to apply super tax only to corporations with profits over Rs10bn'
ISLAMABAD: Economic Policy Business Development Think Tank has strongly recommended that the Super Tax must apply only to corporations with profits over Rs 10 billion and withholding taxes on tax-filer property buyers be withdrawn to revive real estate.
This has been recommended in the budget proposals (2025-26) submitted by the chairman Economic Policy Business Development Think Tank, Gohar Ejaz.
The budget proposals, 'Roadmap to Economic Stability & Export-Led Growth,' he stated that 'industrialization must be our top priority. For rapid growth, we need Special Industrial Zones near major cities with full infrastructure and globally competitive Energy rates. Most importantly, our industry must be cost-competitive to win in global markets. Export Facilitation Scheme (EFS) has discriminatory policy against domestic value chain and imported products, the discrimination has led to massive closure in domestic value chain, the domestic industry must be protected.'
He recommended that 'the industrialization must be our top priority. For rapid growth, we need Special Industrial Zones near major cities with full infrastructure and globally competitive energy rates. Most importantly, our industry must be cost-competitive to win in global markets.'
He stressed the need for a consistent 5-Year Industrial & Export Policy. Investors need predictability.
The interest rates at six percent and energy tariffs for industry at 9 cents/unit are critical to make Pakistani products globally competitive.
Think Tank recommended that the exporters achieving 10 percent plus growth YoY should be offered six percent drawback of local taxes.
The maximum tax rate for salaried individuals should be capped at 20 percent. Let the middle class breathe and spend.
The construction is the engine of over 50 allied sectors and employs millions. It must be declared a national priority sector.
Dr Gohar Ejaz also demands to provide relief to the agriculture sector. 'Agriculture is the backbone of our country. All major crops i.e. wheat, cotton, sugar cane, and maize have suffered. Farmers and agriculture must be supported with research focussed for higher productivity. The input cost must be reduced for maximum returns for farmers. To compete globally, we need Special Zones near big cities with full infrastructure and competitive rates,' the budget proposals added.
Copyright Business Recorder, 2025
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