Sarhad Chamber of Commerce Proposes Energy and Tax Reforms

The President of the Sarhad Chamber of Commerce and Industry has put forward a series of proposals aimed at addressing key issues in the energy sector and taxation system in Pakistan. One of the major suggestions includes transferring control of Peshawar Electric Supply Company (PESCO) and Sui-Northern Gas Pipeline Limited (SNGPL) to the military to combat electricity theft and line losses. This move is seen as a necessary intervention to tackle the challenges faced by both the public and business community, similar to actions taken during the Pervez Musharraf era.

Highlighting the need for significant reforms, the Chamber president called for a reduction in taxes over the next two decades and advocated for duty-free imports to promote the establishment of new industries and modernization projects. The surplus in electricity and gas production in Khyber Pakhtunkhwa was emphasized, urging for fair pricing to ease the financial burden on consumers.

In addition, the Chamber stressed the importance of expanding the tax base to distribute the tax burden more equitably and proposed revisiting high property transfer taxes. During discussions with the Federal Tax Ombudsman, suggestions were made to lower interest rates, align duties on specific items with neighboring countries to combat smuggling, and simplify import-export processes.

The Chamber president also drew attention to the significant interest payments on national loans and the need for uniform banking practices across different regions. To enhance revenue generation, the proposal for a national vehicle registration system was put forward to streamline processes nationwide.

The Sarhad Chamber of Commerce and Industry's recommendations aim to address critical issues in the energy sector and taxation system, with a focus on promoting economic growth, reducing financial burdens on consumers, and improving business practices. These proposed reforms have the potential to bring about positive changes that benefit both the public and the business community in Pakistan.