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July 15, 2021
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday demanded intervention of the government for not including its recommendations in the budget for 2021/22.
Addressing a press conference Wednesday, FPCCI Acting President Nasir Khan said the government had not incorporated practical, business-friendly and growth-promoting proposals of FPCCI in the budget.
âIt was gross negligence on the government s part to ignore the apex representative body of Pakistanâs business, industrial and trade community,â he said.
Khan also criticised the Section 203A of the budget which empowers and expands the discretionary powers of FBR. He added that it would only result in an increase in corruption and harassment. Although Section 203A has been amended through introduction of slabs, powers to arrest and prosecute will create a fearful and discouraging environment for SMEs.
FBR Asked to Abolish the Condition of CNIC on Sales in Next Budget
Business and trade bodies have strongly recommended the Federal Board of Revenue (FBR) to abolish the computerized national identity card number (CNIC) condition on sales in the coming budget (2021-22).
The issue of the CNIC was discussed during the meeting of Mian Nasser Hyatt Magoo, President Federation of Pakistan Chambers of Commerce and industry held with Chairman FBR along with senior officials from Customs and IRS.
The members from different trade bodies invited the attention of FBR towards the CNIC condition on sale which is counterproductive to required sales tax collection as well as impede the industrial production and markets sales. Nowhere in the world CNIC or identity is asked from buyers, Pakistan is the only example set by FBR causing problems in business, in specific promoting the agitations on street by the agents of sales of produce, the conducting of small business be settled in peace by removin