Karachi [Pakistan], Jan.1 : Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has said that if his party is elected to power it will reduce tax rates in order to increase its collection, and added that the political elite does not want tax reforms to take root.
He made the remarks while addressing the Karachi Chamber of Commerce and Industry (KCCI) at its head office on Saturday, reports the Express Tribune.
"If our party comes to power, it will reduce tax rates in order to increase its collection. Tax collection is a big problem in Pakistan because people do not trust institutions," said Khan. "How can our leaders expect people to pay taxes when they themselves evade them?" he asked. He said Pakistan was unable to receive the desired foreign direct investment (FDI) because foreign investors believed their capital was not safe due to prevalent corruption in the country.
"Credible research shows that those countries that have high levels of corruption receive low FDI. Similarly, in case of Pakistan, corruption is a big hurdle in the way of attracting FDI," he stressed.
During the discussion, PTI MNA Asad Umar commented that unless the Federal Board of Revenue (FBR) machinery was overhauled, tax reforms could not be brought in Pakistan.