LAHORE: In order to meet tax targets and stabilise economy, the government will come up with better relief measures for businessmen by reducing tax rates and facilitating trade & industry to flourish. Giving FBR access to bank accounts would not create any problems for businessmen and other bank customers as only Chairman FBR has the authority to access bank accounts for assessment.
This was said by Federal Minister for Finance Mr. Ishaq Dar while talking to Mr. Iftikhar Ali Malik Vice President SAARC Chamber of Commerce & Industry, Zafar Bakhtawari, President Islamabad Chamber of Commerce & Industry and M/s. Farooq Iftikhar President & Irfan Iqbal Sheikh Senior Vice President of Lahore Chamber of Commerce & Industry on the sidelines of a dinner hosted by Mian Shahbaz Sharif, Chief Minister, Punjab.
“Giving FBR access to bank accounts would not create any problems for businessmen and other bank customers as only Chairman FBR has the authority to access bank accounts for assessment,” the minister said.
The Finance Minister said that strengthening the economy and resolving energy crisis are on top priority of the government and for this purpose, some hard decisions have been taken in the budget to improve tax revenue.
Moreover, the existing assessees would not be asked any questions and added that if anybody has some complaints on this account, they can contact his office for redressal of complaint.
Ishaq Dar said the economic team of the government has prepared a pragmatic strategy to cope with all the prevailing challenges and Pakistan will emerge as an important economic player at the regional & global level to assert its national dignity by implementing the said strategy.
Iftikhar Ali Malik, Vice President, SAARC Chamber of Commerce & Industry expressed his confidence that the government will take all possible measures to bring country out of economic crises. He said it was vision of Mian Nawaz Shartif to make Pakistan economic tiger of Asia and expressed hope that he will take all possible steps to realise his vision.
Speaking at the occasion, Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry said that government should take business leaders on board on all important economic and other matters of national importance to develop consensus policies.
He said the hike in turnover tax from 0.5 percent to 1 percent in recent budget would hurt businessmen’s interests and urged that it should be brought down to at least 0.75 percent to provide some relief. He further demanded that the government should bring agriculture and other exempted sectors into the tax net to improve tax collection.
He said businessmen want political and economic stability as these are essential to create enabling environment for growth of trade and industry and hoped that the government would take measures to establish stability in the country. He also invited the Finance Minister to visit ICCI and Finance Minister assured that whenever he got some time from his busy schedule, he would visit Islamabad Chamber of Commerce.