Only 300 companies paying 70-pc tax in Pakistan: PM Imran Khan

Only 300 companies paying 70-pc tax in Pakistan: PM Imran Khan

ISLAMABAD: Around 70 percent of Pakistan’s tax comes from 300 companies, says Prime Minister Imran Khan. He said FBR chief Shabbar Zaidi gave him this figure. The premier was speaking to members of the Gujranwala Chamber of Commerce an Industry in Islamabad on Wednesday.

He said the service sector accounts for over 20% of the economy, but only 1% pays tax. The agriculture sector makes a contribution of 20% to 25% to the GDP, but again, its tax contribution is a mere 1%, he said. The premier reiterated his arguments in favour of setting up a governance system using Madina as a model.

It had justice and mercy, he sad. The governance system took responsibility for all, including the poor, marginalised and elderly.

They didn’t have money, but there was justice and rule of law, PM Khan said, explaining how Madina’s model of governance was important and can be used by Pakistan. The country needs to move forward, he said, repeating his appeal to the public to come into the tax net.

Speaking about the treatment given to prisoners in Pakistan, PM Khan said those who have looted billions of rupees are provided ACs in jail while the poor man who has committed a small crime rots in a small cell.

He again spoke about taxing the rich and spending on the poor. The West refers to this technique as progressive taxation, the premier said.

“I don’t have any properties or bank balance outside of Pakistan. I live for Pakistan and this is where I will die so everything I do [for the country] is also or myself,” he said.

“He told the business community that he needed them to be on his team, which is why he was sharing Pakistan’s situation with them.

The tax we collected over one year last year, half of it went into paying off the interest on our loans, he said, emphasising that Pakistan can’t go on like this.