Business community reeling under inflation, tax measures: Senator Afridi

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ISLAMABAD:     Chairman of the Senate Standing Committee on Commerce and Textile Industry Senator Mirza Muhammad Afridi said we are proud of the services rendered by the business community and we acknowledge their role in the national development.

He said that the limping economy can come out of the stagnation if businesses are allowed to operate otherwise poverty, unemployment and anxiety will continue to increase.

Presiding over a meeting of the standing committee, the Senator said that the tax system has pushed the business community to the edge, therefore, taxes must be reduced and the procedure should be made simple.

Leaders of the business community who met COAS and PM and top officials including advisors for finance, commerce, chairman FBR were also present on the occasion.

Senator Mirza Muhammad Afridi said that revenue cannot be increased amid shrinking GDP and the gulf between tax collectors and taxpayers is widening.

He noted that costly energy, interest rates, absence of continuity in policies, and instability has broken the back of the business community while FBR is treating businessmen as enemies.

If we failed to allay concerns of the business community, they would lose more in the export market while there is possibility of an exodus of industries to other countries, he warned.

He observed that NIC condition has shaken the foundations of the economy and directed chairman FBR to find an acceptable solution within ten days.“The session of the committee will continue unless problems of traders are resolved and I will personally take up the issues with the PM,” he announced.

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