President calls for documentation of businesses for levying just, fair taxes.

ISLAMABAD -- President Dr Arif Alvi has called upon the chambers of commerce and industry to motivate and convince their members to fully document their businesses for bringing transparency in the business inputs and outputs which would lead to levying of just and fair taxes.

This, he said, would increase the tax base and tax collection, minimize incidents of corruption and corrupt practices and would eventually lead to reduced taxation on the businesses.

He said that non-documentation and lack of transparency in the business processes and resultant low tax collection compelled the government to resort to indirect taxation which equally hurt the poor and the rich and therefore direct taxation needed to be enhanced with the help of the business community.

The President expressed these views while addressing the Achievement Awards Ceremony, organized by the Sargodha Chamber of Commerce and Industry (SCCI), at Aiwan-e-Sadr on Tuesday. President SCCI Chaudhary Shoaib Ahmed Basra, also spoke on the occasion.

The President said that Pakistan was the fifth largest country in terms of population and, therefore, it should also be the fifth most important country in terms of socio-economic growth.

He added that it was possible, provided the businesses encourage their female family members to enter into trade and industry on key posts to lead the way for better participation of women.

He said 'Our youth bulge should be provided with high-quality skills, especially in the IT sector, our businesses need to create close linkages with the research and...