KARACHI: The Rice Exporters Association of Pakistan (REAP) has proposed a 5.0 per cent tax amnesty scheme to attract investment and increase capital inflows, particularly from overseas Pakistanis.
In a statement on Saturday, the leadership of REAP, including Group Chairperson Abdul Rahim Janoo; Chairperson REAP Malik Faisal Jahangir; Senior Vice Chairperson REAP Jawed Jillani; and Vice Chairperson Mohibullah extended their heartiest congratulations to President Asif Zardari, Prime Minister Shehbaz Sharif and CDF Field Marshal Syed Asim Munir for proactive and constructive role in promoting peace and helping to prevent the escalation of hostilities in the Gulf region.
Group Chairman, Rahim Janoo, added that taking advantage of the prevailing circumstances, the government should consider introducing an economic amnesty scheme for both residents and overseas Pakistanis.
“Such an initiative would encourage the inflow of funds for investment into the country by offering a nominal tax rate of 5.0 per cent and simplified procedures without requiring detailed money trail documentation.
“This step could significantly boost Pakistan’s economic activity and investor confidence. “In particular, overseas Pakistanis residing in the Gulf region are likely to benefit from and actively participate in such a scheme, contributing meaningfully to Pakistan’s economic growth and stability,” said Rahim.
