LAHORE: Government and the flour-mill owners on Monday struck a deal regarding imposition of withholding tax (WHT).
Following fruitful negotiations with the owners of flour mills, the federal government withdrew a 5.5 percent advance income tax.
On Sunday, a senior member of the Pakistan Flour Mills Association said that they had been having nearly daily back-to-back talks with federal government authorities. “We have high hopes for a favorable result on Monday (today),” he continued.
Earlier, the federal government and flour mill owners agreed to resume wheat grinding nationwide in observance of the first ten days of Muharram. This decision came after a three-day break during which the government promised to review the mill owners’ demand to remove the withholding tax from the supply chain.
It should be noted that following a three-day strike, the flour mill owners have decided to postpone their planned 10-day strike until July 22, 2024, after reaching an agreement with the federal government.
