ISLAMABAD: The government should take the business community on board while finalising the budget for fiscal year 2016-17 in order to avoid contradictions after the budget.
This was stated by Pakistan Federation of Pakistan Chamber of Commerce and Industry (FPCCI) President Rauf Alam in an interview with Customs Today. He said that it was difficult to bridge the gap between the Federal Board of Revenue (FBR) and traders without developing a friendly environment.
He said that traders should also fulfill their responsibilities for the betterment of the country by paying tax. There are many people who are leading lavish lives but do not pay taxes. He added that such behavior forces the government to take loans from international financial institutions.
He said that the government should take traders on board to expand tax-base. “We are sit with the FBR and Finance Ministry to prepare the budget,” he said. The FBR was putting burden on existing taxpayers instead of bringing the non-payers into the tax net, he added.
He said the step, which was taken by the government, to replace the national tax number (NTN) with computerized national identity card number (CNICN) was highly laudable. The businessmen should be trained for handling the tax matters personally, he added.
He said that FPCCI will encourage the women by giving them chance to take part in international exhibitions, besides giving representation in various important units. With the help of Trade Development Authority of Pakistan (TDAP), the traders were struggling to explore the new markets so export level of Pakistan could be raised.
He said that traders should join hands with the government and work for the development and welfare of the country. At the end, he suggested that every citizen should play due role to make the country prosperous.
Pakistan’s foreign currency deposits increase by $31m in September 2026
KARACHI: Foreign currency deposits in Pakistan increased by $31.31 million, or 0.45%, to $6.966 billion in September 2026 from $6.935...
