One-time property tax being considered

[Lahore_Real_Estate]

Federal Minister for Information and Broadcasting Qamar Zaman Kaira has said no suggestion on flood tax has been discussed as yet at the federal level while some provinces contemplating a one-time property tax to generate funds for flood-affected areas.

The federal minister was speaking at the inauguration ceremony of Lahore Chamber of Commerce and Industry (LCCI) FM Radio 98.6 at the LCCI on Saturday. Commenting on trade concessions granted by the European Union he said that it was one of the achievements of the present government that has opened a new window of opportunities for the business community. The government is in contact with the US for winning trade concessions in the larger interests of the economy of the country, he added.

Kaira said that the floods, however, do not mean that we should not pursue our tax reforms agenda, which is the reason that government is going to continue it as per schedule. He said that increased revenue base is in the interest of Pakistan and it has nothing to do with IMF pressure.

He said the government is putting in its best efforts for the revival of the economy that is a solution to a number of problems including unemployment. The government is well aware of the challenges faced by the business community and making all out efforts to resolve these issues. The government is not only taking care of the trade and industry but it is equally mindful of the issues faced by the agriculture sector. It is in contact with international community including China for getting new technologies for the agriculture sector, he said.

The minister said that the recently signed and much criticised Afghan Transit Trade Agreement would not only help curb smuggling but it would pave the way for industrial revival of the country. This is an agreement that would give considerable boost to the domestic industry, he added.

He said the government did not want clash among government institutions and would obey all orders of the courts. The government would, however, exercise its right to appeal or file review petition against judgement but a final decision will even then be of the courts.

Kaira said that sentence awarded to Dr Afia is against the norms of international justice. He said the government was still making full efforts to bring her back to Pakistan under its extradition treaty with the US. The government provided Dr Afia the legal aid to fight her case and the attorneys that pleaded her case were appointed after consultation with her family.

He said the government would welcome any change that is supported by the constitution and strongly oppose any extra constitutional change. He said Musharraf as Pakistani national has right to come back to his country. However, he added, the ex-president would have to appear before courts if required. If he enters politics he will have to face the people of Pakistan, he added.

Speaking on the occasion, the LCCI President Zafar Iqbal Chaudhry said that considering the broader impact of this medium, the LCCI took the initiative to launch its own FM radio channel, which will primarily focus on updating the business community through informative programmes. He said that the LCCI has plan to keep its members and public well informed about the different variations of prices taking place in the stock market, gold market, metal market etc. He said that current currency rates and commodity prices would be shared.

He said that the radio would also present interviews of successful businessmen so that young and emerging entrepreneurs could benefit from their experience and knowledge. Earlier, the federal minister, while inaugurating the LCCI FM Channel paid rich tributes to the LCCI President Zafar Iqbal Chaudhry for taking the initiative of keeping the business community informed about the latest happenings in the business world. Senior Vice President LCCI, Ijaz A Mumtaz, Vice President Faisal Iqbal Sheikh, newly elected office-bearers Shahzad Ali Malik and Sheikh Mohammad Arshad were also present on the occasion.