ICCI Urges Govt To Broaden Tax Net, Revising Working Hours In Budget 2023-24

Sumaira FH Published May 23, 2023 | 05:30 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd May, 2023 ) :Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday urged the government to take appropriate steps to broaden tax net to enhance revenue collection, besides revising working hours to save energy for economic growth and social development of the county.

President ICCI Ahsan Zafar Bakhtawari, while presenting the budget proposals for Federal Budget 2023-24 in Senate Standing Committee on Finance suggested making all commercial meters subject to national tax numbers (NTN), which will significantly increase the tax net.

He urged to change the working hours to save energy, besides incorporating suggestions from the business community across the country in the budget and formulating e an economic plan in consultation with the chambers in a difficult economic situation.

Presidents of Islamabad, Karachi, Lahore, Quetta, Faisalabad chambers and Federation of Pakistan Chamber of Commerce, Pakistan Business Council participated also attended meeting.

Ahsan Bakhtawari apprised the meeting that LCs and ban on imports, differences in commercial electricity tariffs at regional level, smuggling and all such problems were harming the country's economy. There is a need to formulate policies on a permanent basis to solve them.

He proposed that POS integration should be mandatory for retailers as well as all distributors and manufacturers. The issue of filers and non-filers should be solved, supply should be given only those businesses that are POS integrated or have NTN numbers.

On this occasion, Chairman Committee Senator Saleem Mandviwala while appreciating the budget proposals of Islamabad Chamber said that the best and workable proposals have come from the Chambers and the business community.

He assured the business community for placing these proposals before the Finance Ministry and Federal board of Revenue to make them part of the upcoming budget. He said that the business community has a very important role in economic system of Pakistan.