PCA sees RGST as devastating step for the economic activities

ISLAMABAD: PCA sees the Imposition of Reformed General Sale Tax regime under prevailing business conditions as having a devastating impact on overall business activities in the country. The government ought to have detailed deliberation with all stakeholders from trade and business community to evaluate impact and implications of RGST.While talking to a delegation, comprising senior members of the association from Lahore and Peshawar Chapter, Central President of Pakistan Computer Association (PCA)Munawar Iqbal, said that the post floods scenario in the country also suggest that government should seriously consider deferring the imposition of RGST as in the wake of devastating floods, this tax will put more strain on businesses, general public and the economy.

Hel said that the developmental projects were essential for the future of Pakistan and any cut from this sector would hamper the development and economic growth of the country; adding that such measures would also harm the business activities as economic growth would be ceased if proper infrastructure was not developed.The central president of PCA said that inflation has already gone quite high and the prices of all basic items have jumped unprecedentedly, and the phenomenon had resulted as huge sufferings for poor people and imposition of reformed GST will bring a new flood of price hike and inflation.He said that the people belong to lower strata of the society are struggling for survival due to devastating impact of floods will not be able to pull on with life, and urged the government to immediately defer the levying of RGST and start consultation with business community of the country or finding out more suitable and mutually agreeable options to improve tax revenue – Onlinenews