KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said increasing inflation and unemployment is intensifying the issue of food security and nutrition. Masses deserve affordable bread therefore additional taxes should not be slapped on the flour mills but existing taxes should be waived and electricity should be provided to them on discounted rates, he said. Mian Zahid Hussain said that a four hundred percent hike in income tax and seventeen percent sales tax on bran has been proposed in the budget which has triggered concern across the country. Online
Talking to the business community, the veteran business leader said that the decision will hurt the 1700 flour mills operating in the country while the price of flour was estimated to jump by Rs5 per kg but the prices are rising before the implementation of the proposals.
Wheat is disappearing from the market while prices have jumped from rs20 to Rs 30 in different cities which speaks of weakness of the administration.
The business leader said that Pakistan is among the countries with one of the highest per capita flour consumption which is 124 kg while total consumption is 28.5 million tonnes.
The expected rise in price will burden masses by Rs1.5 trillion which is beyond their affordability, he said.
