Heading: IMPOSING MORE TAXES FOR GENERATING MORE REVENUE NO SOLUTION, SAYS ANALYST - 2024-10-06
KARACHI: Ateeq Ur Rehman economic & financial analyst said that imposing more taxes for generating more revenue is not the solution rather the expansion of the tax base should be by incorporating new tax payers and not over burdening the existing tax payers. Non-Tax Revenue (NTR) is the other source of increasing the revenue like, License Fees, Surplus Profits of Regulatory Bodies, Passport Fees, Petroleum Development levy, Natural gas Development Surcharge, Cellular Mobile Operators Fees, Optic Fiber Cable License Fees, Dividends, Mark-Ups and others. Attracting investments in Agriculture, Oil & Gas, Mining, Fintech, Equipment, Transfer of Technology, Pharmaceuticals, Maritime should be priority. Predominantly and largely by inviting land lock countries to boost facilities of our ports. Pakistan’s Blue Economy can generate over US$100 billion, which had not been used up to its full potential. Incorporating blue economy in the national economy is of utmost importance for a country like Pakistan. Pakistan’s coastline of 1001km is home to different species of fishes, marine animals, plants and mineral resources, renewable energy, etc. The development of economic and industrial zones, import substitution and value added industries are eminent for the growth of revenue…
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