Economic vision: MQM unveils Altaf Hussain’s financial proposals

[pinionated]

KARACHI: Calling for taxing “all taxable incomes” by broadening the tax base without raising tariffs, the Muttahida Qaumi Movement (MQM) issued a paper on Saturday titled “Altaf Hussain’s Economic Vision” along with guidelines for the Federal Budget 2012-13.



Addressing a ceremony at the Karachi Chamber of Commerce and Industry (KCCI), MQM MNA and Minister for Overseas Pakistanis Dr Farooq Sattar said that the share of indirect taxes in the total revenue collection would be reduced from 68% to 60% under the MQM leader’s economic vision.


“Real sovereignty can only be achieved by developing a strong economy, which can’t be built on heavy indirect taxation” Sattar said.

Budget proposals prepared by MQM’s economic team include a reduction in the sales tax rate from 16% to 12%. The proposal also calls for a decrease in the maximum import duties to 10% with the minimum limit of 5%.


The MQM is in favour of the abolition of the petroleum levy which, according to Sattar, has made the life of ordinary people miserable.

There were clear signs of resentment in the KCCI auditorium against Punjab’s politicians, who have been terming the allocation of energy resources biased towards Sindh. Former KCCI president Siraj Kassim Teli was particularly critical in this regard.


“If you want the distribution of resources on the basis of your 62% share in the country’s population, then you should also pay taxes according to the same criterion,” he told the audience.


It will be the first time in Pakistan’s history that a political party is going to release shadow provincial and federal budgets, Sattar said about the MQM’s upcoming shadow budgets.


“I’m going to hold meetings with your different committee members to reconcile any differences between your and Altaf Bhai’s economic visions,” he told KCCI office bearers present on the occasion.


The MQM’s economic vision calls for curtailing the maximum landholding limit and absentee land landlordism besides promising to abolish support prices in the agriculture sector. Sattar said the top priority should be the energy sector. “The MQM will ensure that subsidies remain for the next few years until we become self-sufficient in energy.”


The MQM supports the provision in tax laws, which calls for computerised national identity card numbers of the customers of every manufacturer, importer and exporter along with bank account trails.

“This measure is presently non-implementable, but it’ll be pursued… and implemented over a period of two years.”


According to the economic vision, imports are subject to taxation unfairly under import duties, sales tax, income tax, withholding tax and value-added tax at the import stage, which leads to increased smuggling and under-invoicing.



http://tribune.com.pk/story/378068/economic-vision-mqm-unveils-altaf-hussains-financial-proposals/

[alimohsan52]

Altaf: Right lets increase the Bhatta rate from this year

[Machar]

Main mar jawa ..... a British National worried about Pakistan

"god save the queen" from dangi

[alimohsan52]

As brother Machar mentioned Tafoo sung 'God save our gracious and noble queen' and he did his traditional mujra when he sung this:

[UKPakistani]

They sound all serious, like they know what they are talking about, they will change Pakistan into a Paradise with the stroke of a Pen

Expect the chances of MQM presenting a budget for Pakistan are less than me hopping on one leg to the top of everest backwards

So they may as well promise to make evryone millionaires and billionires and trillionaires on their first day in office

IT AINT HAPPENING

[Altaf Lutfi]

PTI abhi sirf maidan mein utri hai, jeeti nai lekin Pakistan ka bhala hona shru ho gaya hai. Koi soch sakta tha k Altaf jaisay black mailer kabhi "economic papers" tarteeb denay ki zahmat karein gey ? kabhi socha tha k PML-N baldiyaati nizaam ko "behtar" bananay ki zaroorat mehsoos karay gi ? kabhi socha tha k PPP badhawasi mein kabhi Bilawal tu kabhi Asifa ko chief sales person bananay kay shoshay choday gi ? awaami jazbaat ka ghoda raftar pakad chuka hai aur in shahsawarun ka paon rakab mein phansa hua aur khud zameen par ghaseetay ja rahay hain.

[pinionated]

I see most ppl post here for the sake of posting and as I said before.. opinions are like a-holes, u think yours is clean while everyone else's stinks.
That is why, there is much better discussions on news websites than this forum.
One should credit MQM for proposing something that has validity, instead of giving false hopes and pie in the sky type solution. Talk is cheap, look for action... and then look for motivation behind the action.
Let's see some critique of the Plan, instead of bashing (otherwise, I will take it that u have single digit IQ)
My assessment of PTI followers: they may have the heart in the right place, but their head is often screwed backward.

[MYCOUNTRY]

[Machar]

I see most ppl post here for the sake of posting and as I said before.. opinions are like a-holes, u think yours is clean while everyone else's stinks.
That is why, there is much better discussions on news websites than this forum.
One should credit MQM for proposing something that has validity, instead of giving false hopes and pie in the sky type solution. Talk is cheap, look for action... and then look for motivation behind the action.
Let's see some critique of the Plan, instead of bashing (otherwise, I will take it that u have single digit IQ)
My assessment of PTI followers: they may have the heart in the right place, but their head is often screwed backward.

acha Genius

for past 25 years we ave been seeing this .. from MQM .. what`s new in this ? u tell me?

what took them 4 n half years 2 come with up with such .. vision? ... oh i see PTI is more popular in Sindh ...

its called the vision of getting VOTES

[gazoomartian]

I see most ppl post here for the sake of posting and as I said before.. opinions are like a-holes, u think yours is clean while everyone else's stinks.
That is why, there is much better discussions on news websites than this forum.
One should credit MQM for proposing something that has validity, instead of giving false hopes and pie in the sky type solution. Talk is cheap, look for action... and then look for motivation behind the action.
Let's see some critique of the Plan, instead of bashing (otherwise, I will take it that u have single digit IQ)
My assessment of PTI followers: they may have the heart in the right place, but their head is often screwed backward.

....................

[gazoomartian]

KARACHI: Calling for taxing “all taxable incomes” by broadening the tax base without raising tariffs, the Muttahida Qaumi Movement (MQM) issued a paper on Saturday titled “Altaf Hussain’s Economic Vision” along with guidelines for the Federal Budget 2012-13.



Addressing a ceremony at the Karachi Chamber of Commerce and Industry (KCCI), MQM MNA and Minister for Overseas Pakistanis Dr Farooq Sattar said that the share of indirect taxes in the total revenue collection would be reduced from 68% to 60% under the MQM leader’s economic vision.


“Real sovereignty can only be achieved by developing a strong economy, which can’t be built on heavy indirect taxation” Sattar said.

Budget proposals prepared by MQM’s economic team include a reduction in the sales tax rate from 16% to 12%. The proposal also calls for a decrease in the maximum import duties to 10% with the minimum limit of 5%.


The MQM is in favour of the abolition of the petroleum levy which, according to Sattar, has made the life of ordinary people miserable.

There were clear signs of resentment in the KCCI auditorium against Punjab’s politicians, who have been terming the allocation of energy resources biased towards Sindh. Former KCCI president Siraj Kassim Teli was particularly critical in this regard.


“If you want the distribution of resources on the basis of your 62% share in the country’s population, then you should also pay taxes according to the same criterion,” he told the audience.


It will be the first time in Pakistan’s history that a political party is going to release shadow provincial and federal budgets, Sattar said about the MQM’s upcoming shadow budgets.


“I’m going to hold meetings with your different committee members to reconcile any differences between your and Altaf Bhai’s economic visions,” he told KCCI office bearers present on the occasion.


The MQM’s economic vision calls for curtailing the maximum landholding limit and absentee land landlordism besides promising to abolish support prices in the agriculture sector. Sattar said the top priority should be the energy sector. “The MQM will ensure that subsidies remain for the next few years until we become self-sufficient in energy.”


The MQM supports the provision in tax laws, which calls for computerised national identity card numbers of the customers of every manufacturer, importer and exporter along with bank account trails.

“This measure is presently non-implementable, but it’ll be pursued… and implemented over a period of two years.”


According to the economic vision, imports are subject to taxation unfairly under import duties, sales tax, income tax, withholding tax and value-added tax at the import stage, which leads to increased smuggling and under-invoicing.



http://tribune.com.pk/story/378068/economic-vision-mqm-unveils-altaf-hussains-financial-proposals/

1. If this is his vision then Altaf bhai needs to have cataract surgery

2. If if he were to pass this, they wouldn't be able t implement these

3. He is trying to be sincere and bog shot to fool his members that he is a Pakistan keeps Pakistan's pain in his heart. But cant fool people any more. People have heard it, and witnessed it. All this will lead to increase in donation money.


I hope he never gets a chance to legislate any of these because it will be waste of time.

[barca]

الطاف کا فارمولا یہ ہے کے ٹیکس پر پابندی ہونی چاہیے لوگ ٹیکس چوری کرتے ہیں
لیکن ٹیکس کی جگہ بھتہ لاگو کرو سب دے گے اور وقت سے پہلے دے گے