Islamabad Chamber of Commerce & Industry (ICCI) has called upon the government to seriously consider deferring the imposition of Reformed General Sale Tax regime especially in the post-floods scenario. It said that in the wake of devastating floods, levying of this tax will put more strain on businesses, general public and the economy. 

Mr.Zahid Maqbool, President, ICCI said that government has frozen all funds meant for developmental projects while the provinces have also been directed to do the same to cope with the post-floods situation.

However, he said such measures will further slow down the economic growth of the country as smooth promotion of business activities is not possible without developing proper infrastructure. He was of the view that the country will lag far behind to its competitors if completion of developmental projects was not given due attention.

He said inflation has already gone quite high making life tough for poor people and imposition of reformed GST will bring a new flood of price hike and inflation. People who are already struggling for survival due to destruction of floods will not be able to pull on with life.

He urged the government to immediately defer the levying of reformed GST and start consultation with business community of the country for finding out more suitable and mutually agreeable options to improve tax revenue.

ICCI President said there is no doubt that the government needs more revenue to run the country. However, such measures should be avoided as would affect business activities, raise inflation and put the common man in more trouble.