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LAHORE, Jun 18 (APP):Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Engineer Khalid Usman Wednesday rejected the proposed powers to Federal Board of Revenue (FBR) including the authority to arrest businessmen.
He was speaking at All Chambers Convention presided over by FPCCI President Atif Ikram Sheikh.
Engineer Khalid Usman said that such excessive powers will not only disrupt the business environment but also create a sense of insecurity among the business community. He said that the FBR already possesses significant powers and any further addition, especially the power to arrest, would severely damage business confidence in the country.
He urged the government to simplify and rationalize the taxation system to encourage more people to voluntarily enter the tax net instead of creating an atmosphere of fear. The business community is the backbone of the national economy and ignoring their concerns is neither wise move nor productive.
Engineer Khalid Usman said that policymaking must be an inclusive process involving all chambers and trade bodies to ensure the formulation of pragmatic and growth-oriented economic policies. He added that Pakistan is in dire need of stable and sustainable economic strategies where the business community must be taken on board as key stakeholders.
He also urged the government to engage in consultations with the business sector for the betterment of the economy, eliminate unnecessary taxes and complex regulations and ensure that the FBR functions as a facilitator rather than an enforcer.
During the convention, participants held in-depth discussions on the Federal Budget 2025–26. A consensus was reached to adopt a unified stance in protecting the rights of the business community and opposing the discretionary powers being proposed for FBR.