Pak Economy not fit to bear cost of Value Added Tax: Faiz-ur-Rehman Durrani

Faiz-ur-Rehman Durrani, president of Pakistan Awami Tehreek, has said that low GDP ratio, poverty, unemployment, cut in foreign direct investment, energy crunch, burgeoning debt and devaluation of rupee against dollar are some of the factors, which show that the Pakistani economy is weak and confronted with structural problems. The upcoming budget would add to the financial woes of people. He said that industrial sector of Pakistan is already reeling under the burden of increasing input cost and energy crisis, and the likely imposition of Value Added Tax in these circumstances would deal a severe blow to the country’s economy. He said that dearness would further rise and exports would decrease, which would result into more job losses. Faiz-ur-Rehman Durrani expressed these views while talking to a delegation of traders from Multan which called on him in the party’s secretariat the other day.