Latest news with #E-Bilty
Express Tribune
a day ago
- Business
- Express Tribune
Traders call off strike after agreement with govt over tax penalties
The business community has postponed the countrywide strike after successful talks with the government over certain budgetary measures introduced through the Finance Act 2025. A day earlier, the federal government invited representatives of all trade bodies for negotiations after Karachi's business community and transporters announced a countrywide wheel-jam strike scheduled for July 19. The Karachi Chamber of Commerce and Industry (KCCI) had called the strike in protest against five key measures incorporated into the federal budget for the current fiscal year, along with 32 anomalies in the Finance Act. KCCI opposes Sections 37A and 37B of the Finance Act, which, it claims, grant the Federal Board of Revenue (FBR) arbitrary arrest powers. It also objects to Section 21(S), which imposes harsh penalties on cash transactions of Rs200,000 or more; mandatory digital invoicing under SRO 709; and the imposition of E-Bilty under Section 40. Read More: Aurangzeb offers talks to avert July 19 strike According to the Ministry of Finance, a joint meeting was held on Tuesday between government officials and business community representatives. The meeting was chaired by Finance Minister Muhammad Aurangzeb and attended by members of chambers of commerce, trade organisations, and senior government officials. The meeting included a detailed review of the traders' concerns, particularly regarding Section 37A and other contentious provisions of the Finance Act 2025. During the session, a committee was formed under Prime Minister's Special Assistant Haroon Akhtar Khan to address the business community's reservations. It was also decided that the strike would be postponed until the committee completes its work. Also Read: SCCI backs strike against tax measures The finance minister assured traders of the government's full cooperation and transparency, stating: 'The government's objective is to curb large-scale tax fraud, not to harass honest businesses.' The committee will also include Minister of State for Finance Bilal Azhar Kayani, Prime Minister's Coordinator Rana Ehsan Afzal, the Chairman of the FBR, and representatives nominated by the business community. The committee is expected to conduct detailed consultations over the next 30 days and present a consensus-based, practical solution to the federal cabinet. It was agreed that the traders' concerns regarding transactions will be addressed, and efforts will be made to ensure that the business community does not face unnecessary difficulties.
Business Recorder
2 days ago
- Business
- Business Recorder
Transporters too support July 19 strike call
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani while strongly reaffirming the business community's uncompromising stance against the five key anti-business measures and 32 anomalies introduced in the Finance Act 2025, urged the federal government to immediately suspend these provisions and issue a formal notification to that effect. Addressing a press conference at the KCCI on Monday, flanked by representatives from goods transporters' associations and alliances from across Pakistan who were led by Chairman Pakistan Goods Transport Alliance Malik Shahzad Awan, Bilwani made it clear that unless the government puts all these measures in abeyance, the nationwide strike scheduled for July 19 will take place with full force, bringing economic activity across the country to a grinding halt. Bilwani emphasised that only upon suspension of controversial provisions will the business community engage in any dialogue with lawmakers. He reiterated KCCI's demand for the immediate withdrawal of Sections 37A and 37B of the Finance Act, which empower FBR officials with arbitrary arrest powers; Section 21 (S), which imposes harsh penalties on cash transactions of Rs. 200,000 or more; mandatory digital invoicing under SRO 709; and the imposition of E-Bilty under Section 40(C). He also called for the restoration of the Final Tax Regime for exporters. Jawed Bilwani said that the leaders of the transporters associations have expressed unwavering solidarity with KCCI and confirmed their active participation in the upcoming strike. The transporter alliances declared their full and unconditional support, committing to remain fully aligned with KCCI's demands and to stand united until these are met, regardless of the consequences. They announced a complete wheel-jam strike, declaring that no vehicle will move on July 19, in absolute unity with the business community. Copyright Business Recorder, 2025
Express Tribune
2 days ago
- Business
- Express Tribune
Aurangzeboffers talks to avert July 19 strike
The federal government on Monday invited representatives of all trade bodies for talks after Karachi's business community and transporters announced a countrywide wheel-jam strike on July 19 in protest against certain budgetary measures introduced through the Finance Act 2025. Speaking at the Overseas Investors Chamber of Commerce and Industry (OICCI) in Karachi, Finance Minister Muhammad Aurangzeb invited all chambers of commerce and trade associations on Tuesday (today) to discuss their concerns over the Finance Act. The minister's talks offer came after Goods Carrier Association head Malik Shahzad Awan and Karachi Chamber of Commerce and Industry (KCCI) President Javed Bilwani addressed a joint press conference regarding the strike call for July 19. "All transporters will participate in the KCCI's strike on July 19. The wheel jam strike will continue until the KCCI's demands are met. We are also prepared for a longer duration strike," Malik Shahzad Awan told the media persons. The KCCI called the strike against "five key measures" incorporated in the federal budget for the current fiscal year and 32 anomalies in the Finance Act. At the joint press conference, Bilwani made it clear that unless the government put all these measures in abeyance, there would be a strike on July 19. The KCCI opposes Sections 37A and 37B of the Finance Act, which it claims, empowers the FBR with arbitrary arrest powers; Section 21(S), that imposes harsh penalties on cash transactions of Rs200,000 or above; mandatory digital invoicing under SRO 709; and the imposition of E-Bilty under Section 40©. At the OICCI, the finance minister said that he would listen to the position of all the chambers and associations and also explain his position. "All chambers should come after reading the current law. We have put many safeguards in the law against sales tax fraud and other issues," he said. Aurangzeb dismissed the criticism as "propaganda" regarding the enhanced powers granted to the Federal Board of Revenue (FBR), which, he said, aimed to counter large-scale sales tax fraud. He said that the additional powers apply to cases of over Rs50 million tax evasion and not on ordinary businesses. "The new legal tools have been implemented solely to prevent fraudulent activity related to sales tax," Aurangzeb said. "An important meeting with presidents of chambers will be held tomorrow [today]. The government will explain the scope and intent of the FBR's actions to business leaders," he said. Earlier, Biliwani, the KCCI president, insisted on the demand for the immediate withdrawal of the "controversial" Sections of the Finance Act. He also called for the restoration of the Final Tax Regime for exporters. Bilwani revealed that the KCCI was being approached by the Finance Ministry, and while other efforts were being made to resolve the issues through dialogue, but added that there had been no official assurance or notification to suspend the controversial measures. "The KCCI has requested the government to hold these matters in abeyance until a mutually beneficial and constructive solution is found," he said, warning that the strike would "not be postponed until and unless these demands are fully accepted". Responding to a query, Bilwani stressed that the entire business community was fully united and KCCI continued "to receive overwhelming support" from across the country. "More than 50 formal letters have been received from various business associations, reaffirming their solidarity with the KCCI."
