Hike in energy prices, borrowing proves FBR incompetence Masses, honest taxpayers to face more hardships Islamabad: [April 22] The Pakistan Economy Watch (PEW) on Sunday said frequent upward revisions in the prices of fuel and electricity and continued government borrowing proves incompetence of the tax collectors. Government continues to revise energy prices on one pretext or other to raise funds as the tax machinery has failed to show any sign of improvement. Similarly, ruling coalition has crossed all the limits of borrowings to generate money without considering its social and economic complexities, said Dr Murtaza Mughal, President PEW. Any hike in the price of CNG, electricity, and petrol etc. automatically add billions to the coffers of government without any effort by the FBR, he added. He said that dependence of price revisions and borrowing despite SBP warnings proves that rulers don't expect anything from FBR therefore they are left with limited options to finance their expenditures. Dr Murtaza Mughal said that the government continues to give relaxations and unjust exemptions to the influential sectors and squeeze masses to make money for luxuries. PEW sees no positive move to broaden tax base or bring powerful sectors into tax net in the election year. This means that traders, rural elite, real estate, some services and stock brokers would continue to earn without sharing for national development, he added. Government is in process of giving additional relaxations to some sectors known for financing election campaigns, Dr. Mughal said. He said that government has asked FBR to collect additional Rs 0.39 trillion in the next year despite knowing that it has never achieved target. The sectors comprising 80-85 per cent of the economy are not giving taxes and may not pay in the years to come; masses and honest taxpayers will be facing more hardships in the next year. -- Dr. Murtaza Mughal Cell: 0321-5157671 President Pakistan Economy Watch
Tariq Khattak, Islamabad, Pakistan.
GSM = 0300-9599007 and 0333-9599007
Email: Tariqgulkhattak@gmail.com
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