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US Ambassador hopes levying of RGST

Cameron Munter US Ambassador hopes levying of RGST

Cameron Munter

US Ambassador to Pakistan Cameron Munter has said that the loans secured by the government have affected development in private sector.
US Ambassador Addressing the members of Karachi Stock Exchange and later talking to media men on Monday, Munter said the tax to GDP ratio in Pakistan was the lowest in the world while the subsidy being provided to the public sector enterprises was double in size than the Kerry Lugar Bill.
Mentor opined that the delay in the Liquefied Natural Gas (LNG) project was multiplying the energy woes of Pakistan.
He said although a debate on the RGST was continuing but the proposed taxation measure would not alleviate the difficulties being faced by the country. “Some thing more will have to be done in this respect,” he stressed, adding that the affluent would have to pay the taxes.
“I hope the RGST will be levied with the consensus of provinces,” he remarked.
The US diplomat observed that the incumbent government was working for the growth of national economy. “Economic development of every country relies on economic policies,” he said.
He opined that the State Bank of Pakistan should pursue a long-term policy in the national interest.
He said the US wanted the business community of Pakistan to flourish. Work was underway to give Pakistani products access to the US markets, he said, adding that his country was working in collaboration with Pakistan in the energy sector, as it would provide 108 million dollars to control energy crisis. He noted that the foreign investment was a must to overcome the prevailing energy crisis.
Munter said being an allied country, the US would extend every possible assistance to Pakistan. He also mentioned that the US imported the largest share of Pakistani exports.
He urged the business community of Karachi to remain in contact with the political circles in Islamabad.

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