In light of the recent decision of the government regarding the provision of “Amnesty scheme” to tax defaulters, there is a buzz in the engineering sector about how this scheme can be modified to be more beneficial for the economy. It is the opinion of the many senior engineers in engineering community of Pakistan that instead of offering the amnesty scheme in its present form, it should be modified in such a way that encourages industrialization i.e. People setting up new industries should be exempted from showing money trail or at least some concessions should be provided. Similarly the people investing a specific amount in currently running industries should also be provided some concessions regarding undeclared assets. This initiative, let’s call it “Amnesty for Industrialization”, will not only help to improve industrialization but will also strengthen the economy of the country by creating thousands of jobs and a platform to compete globally. Cherry on top is that as new industries get registered under this program, the tax net will also expand.
