- Advertisement -
LAHORE, Aug 10 (APP): The business community is relieved over the government’s decision to soften its tax policy by reversal of several budgetary measures.
Convener of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Regional Committee on Food, Shahid Imran stated this in a meeting with a delegation of food exporters here Sunday.
He said that powers granted to FBR under section 37A of the sales tax act have been strictly limited and these powers will now be exercised only in serious cases of sales tax fraud of fake or flying invoices. Income tax commissioner and two nominees of recognised trade bodies will approve conduct of investigation.
He was of the view that a stable and business-friendly tax regime is essential for sustaining economic growth, attracting investment and ensuring the smooth availability of essential food items at reasonable prices.
Shahid Imran urged the authorities to continue consultations with the private sector to develop long-term fiscal policies that balance revenue generation with economic stability. The FPCCI top leadership led by its President Atif Ikram Sheikh will remain committed to supporting initiatives that foster sustainable growth in Pakistan’s food and allied industries, he vowed.