A. Background (BG)

This refers to the related TLQC in trail, blue, italic and double Line (a) 3337 of 11.11.25 about One Pakistani with Rs 4.77 Trillion Brain Drain VS Rs 12.5 Trillion whole Pakistan Budget (b) 3336 of 11.11.25 about Tax Policy Crisis: Revenue Obsession and Failure of Reform (c) 3329 of 30.10.25 about Collection by FBR; while New Tax Policy Office is directly report to MoF

2. We also refer to several Other QCs including (a) TLQC2884 of 30.8.24 about High Taxes, Bills & Corrupt System but Brain Drain not Advisable (b) TLQC2881of 27.8.24 about ST at Import Stage be abolished to reduce Corruption - SZ (c) TLQC2876 of 17.8.24 about Heavy Taxes IMF programme & challenges (d) TLQC2828 of 8.7.24 about Heavy Tax Burden, 40% Expected Inflation & What do ? (e) EIQC268 of 11.11.23 about Corruption acceptance by PPP Representative on Media

B. Updated Commentary

Further to KQU 3644 of 13.11.24, being an Important Matter, we would inform you about Video Due to huge Tax, Electricity & Gas shortage & high prices, 1000s of Industries closed shifted to another countries - Economy is really improving or just Govt Claims (Attachment 3353.1) reported by Mr Shokat Ali for Aaj News Lahore.

2. The video discusses severe challenges facing Pakistan's economy, including an energy crisis and excessive taxation, leading to widespread industrial closures and business shifts abroad. Key Issues Highlighted are given in para 3 to 6.

3. Energy Shortages: Electricity and gas shortages are intensifying, affecting households and industries. High tariffs make payments unaffordable, resulting in over 10,000 factories closing nationwide. 

4. Industrial Impact: In Lahore's Quaid-e-Azam Industrial Estate alone, 400 out of 900 factories have shut down. 30-40 foreign companies are exiting, and local investors are relocating. 

5. Tax Burdens: Traders face overwhelming taxes, including advance income and sales taxes on imports and sales. Minor discrepancies lead to FIRs, creating a hostile business environment. 

6. Business Responses: Factory owners resort to burning wood or tires for fuel but face shutdowns due to smoke pollution. Overall, running factories feels like navigating a ship in a storm. 

Despite government claims of economic reforms, foreign direct investment is declining, and local capital is fleeing. Businesses urge better facilitation and ease of doing business to retain operations. 

C. Multiplication - Action please 

Although all the Commentaries are to the extent of the Subscribed IDs only, however, your Goodself is allowed to share this TLQC for the Noble Cause to create a tempo, through recipients of your Associations, so that the govt reverse their decision (which decision is against all Industries as well as Masses.

D. Further Details & Services

Should you require any clarification or explanations in respect of the above or otherwise, or require Income Tax, Federal   & Provincial Sales Tax or Withholding Tax Statement, Advisory, Return Filing or Review services, please feel free to email Mr Amsal at amsal@kasbati.co with CC to info.kasbati@professional-excellence.com, asif.s.kasbati@professional-excellence.com.

Best regards for Here & Hereafter

Asif S Kasbati (FCA, FCMA & LLB)

Managing Partner

Kasbati & Co (1400+ Tax, Levies, Companies, Economy, Inflation, HR, Banking, Finance, etc

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