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Plan to abolish

WT hailed

RECORDER REPORT

KARACHI: Mohammed Jehangir, Chairman, Pakistan Chemicals and Dyes Merchants Association (PCDMA), has welcomed the statement of Interior Minister Moinuddin Haider that there will be no wealth tax from July 1, 2000.

He said that wealth tax was a real problem in capital formation and investment in Pakistan.

He said now "we also understand that the present government is taken serious steps" to reduce the number of taxes in Pakistan, which is a real hurdle in smooth running of Pakistan economy.