LAHORE: The government has seriously taken up the issue of withholding tax on all banking transaction and during current month a very reasonable package will be announced which will be acceptable for all the stakeholders. The package will also enable the newcomers to willfully come under the tax net, broadening the tax base.
This was stated by Lahore Chamber of Commerce and Industry vice president and PML-N Traders Wing president Nasir Saeed in an exclusive interview with Customs Today at the LCCI office.
He said that traders are backbone of the national economy and to resolve their WHT related concerns which created a rift between the government and the traders’ community, Punjab Chief Minister Shahbaz Sharif has held a meeting with Finance Minister Ishaq Dar and top brace of the Federal Board of Revenue in the presence of traders’ representatives in Islamabad.
Far-reaching decisions were taken during this meeting and in the result of it all overdue issues especially WHT on banking transaction will be resolved, he said.
Saeed informed that the package will also encourage the new taxpayers to get registered with the FBR adding to the growth and development of the economy.
In answer to a question, he replied that the government has formulated a comprehensive strategy to get the economy back on track and the future of the country is bright.
He said that Punjab government has signed 85 trade agreements with Turkey and China during the recent business opportunities in Punjab Summit.
A number of Memorandum of Understanding (MoUs) of energy and infrastructure were signed with other countries, he said, adding that foreign investors are interested to invest in Pakistan as they have quite knowledge of the strategic and geographic importance of the country.
To a query, the LCCI vice president said that law and order situation has also improved significantly due to the Pak Army’s operations against the terrorism and the COAS has done quite a remarkable job in this regard for which whole nation, especially the traders’ community is indebted to him.
Saeed hoped that this very peace and order will play its part in completion of the projects which the foreign investors have intended to initiate in Punjab.
He added that the government of Prime Minister Nawaz Sharif is working on war-footing to resolve the energy crisis and during the year 2017-18 a number of power projects would be yielding abundance of energy overcoming the acute shortage.
He urged the Pakistani businessmen and investors to invest in Pakistani energy and infrastructure projects encouraging the foreign investors to bring their investment in Pakistan.
Saeed said that Prime Minister Nawaz Sharif and Chief Minister Punjab Shahbaz Sharif have devoted their lives to make Pakistan an economic power of the world and the traders, industrialist and businessmen should also stand by them to achieve the goal.
