Thursday August 18, 2022

Burden on people

July 04, 2022

Although the business community has criticized the government’s decision to impose the super tax on industries, it can be seen as a step towards creating a fair taxation system. People fear that businesses will pass this burden on to end customers in the shape of increased prices. The fertilizer industry has also passed its burden onto end consumers. An increase in urea prices has increased the cost of growing crops. This not only affects small farmers but also raises the price of other agricultural products, leading to an increase in inflation. In addition to this, major exports dependent on agriculture will become less competitive in the international market. The government should ensure that the imposed super tax does not affect low-income families that are struggling financially. It is crucial that the government works on structural reforms for the agriculture sector.

Asad Aziz