May 26, 2006	Friday	Rabi-us-Sani 27, 1427

KARACHI, May 25: The government should adopt special measures to check smuggling and under-invoicing which were adversely affecting the domestic industry, Iftikhar Ali Malik, co-chairman of the Pak-America Business Council, said.

In his budget proposals and suggestions sent to the Central Board of Revenue, Mr Malik, who is also former president of the Federation of Pakistan Chambers of Commerce and Industry, said the next budget should not include any new tax and like textile, other sectors should also be given sales tax exemptions.

He said the revenue collection was registering an increase and any levy would prove to be a counter-productive for the tax culture, adding that the government would surpass its revenue target of Rs710 billion by Rs20 billion.

“The government should allocate a reasonable amount from this revenue for the construction of dams to help overcome energy crisis.”

Mr Malik also stressed the need to control rising inflation and provide opportunities to the youth for getting technical training, besides increasing budget for education.

He pointed out that industrialisation was right way to end poverty and urged to remove all hurdles in the way of establishment of new industrial units in the country.—APP