Rejecting the government’s 10 per cent Super Tax, Pakistan Hosiery Manufacturers & Exporters Association (PHMEA) claimed, it may slow down the economy
Kashif Zia, Chairman, PHMEA, said, the textile sector is already paying 29 per cent tax. Further taxes would damage the sector badly. The interest rate of 13.75 per cent would slow down the economy, he claimed.
Zia urged the government to bring more people into the tax net rather than imposing more taxes on existing taxpayers.
Prime Minister Shehbaz Sharif recently announced a super-tax of 10 per cent on large-scale manufacturers and industries in the country in order to address the economic woes of the country.