Business community urges govt to reduce taxes in next budget

KARACHI: The business community leaders have asked the government to reduce taxes in the upcoming budget for the year.

A session with business community leaders related to the upcoming budget was chaired by Advisor to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh through a video link on Monday.

In the session, traders’ community leader Qasim Teli, President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan and members of Karachi Chamber of Commerce were present via video link to give suggestions.

The business community members asked the government to expedite business activities and create ease of business.

The traders urged the government to create better business opportunities in the next budget, adding that the Federal Bureau of Revenue should issue tax refunds of traders.

Traders’ community leader, Qasim Teli said that all sectors should be given relief to save the economy and industry from the grim impact of the coronavirus.

He demanded the government should reduce all taxes, electricity and gas bills by 50% for the whole year.

Hafeez Shaikh heard the recommendations of traders and businessmen and assured them that their suggestions will be mulled over. He said the protection of the small businesses of the country will topmost priority in the budget.

Appreciating the vibrant role being played by small traders in the economic development, he said that even the wheels of industries were spinning due to the contribution being made by the diminutive traders hence the existence of small traders is just as important for the survival of industries in the city.