Govt loses Rs 42bn tax collection due to recent holidays

August 3, 2014 Off By Web Desk

KARACHI: President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Zakaria Usman has expressed serious concerns over a week long holiday on the occasion of Eidul Fitr and said that at a time when the country was in dire need of continuous work to put the economy back on track, some elements in the government were making all out efforts to put it a reverse gear for their own interest.

Usman further said that our country could no more afford long holidays if the government wanted to overcome ongoing economic challenges. Our nationalism demands longer working hours instead of going on leaves for many days at any occasion. He said that government understands well that the energy crises have already broken the back of the industrial sector in the country and they were hardly fulfilling their export orders to keep the wheel of the economy on the run.

The president FPCCI stated that long holidays on Eidul Fitr had badly affected the trade and economic activities in the country. The banks remain closed for six days which is against the norm of business activities.

Usman said that the business community was supporting the government policies but regretted that the government did not even bother to consult them before taking such decisions which directly pertained to their business.

He informed that due to holiday culture in the country on any occasion or political strikes and law and order situations, the ultimate loss is being suffered by the country. Due to recent Eid holiday, the government lost Rs 42 billion tax collection. Moreover, the business community has to pay double pay to labour due to their shortage which ultimately increases the cost of doing business and lastly the whole nation suffers this extra burden of cost.

“It seemed that some elements in the government do not want the economic revival of the country, therefore, they always come up with novel idea to decelerate economic activities.” The Prime Minister and the Finance and Commerce Ministers should look into the matter and issue necessary directions to the concerned officials to avoid unnecessary holidays in future, Usman added.

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