4 days ago
- Business
- Business Recorder
Business activities remain normal in twin cities
ISLAMABAD: The business activities remained normal in the twin cities of Islamabad and Rawalpindi, as businessmen did not observe a shutter down strike against the extraordinary powers of the Federal Board of Revenue (FBR) to make arrests under Finance Act 2025.
The tax-related issues concern the implementation of the Finance Act 2025, including arrest powers under 37A of the Sales Tax Act, payment of Rs200,000 through cash, e-bility, and other enforcement provisions introduced under the Finance Act 2025.
Shops and businesses remained open in all the key and local areas including main Murree Road, Saddar, Satellite Town and old city.
Meanwhile, President Islamabad Chamber of Commerce and Industry (ICCI) Nasir Qureshi was of the view that the business community of the federal capital did not support the strike call.
'We have had discussion with Haroon Akhtar, SAPM on industries and he has assured to take up the matter with the PM - therefore, it's our responsibility to wait for a few days to see the outcome of his assurances,' he added.
The 12-member committee has been constituted under the Chairmanship of Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production. The committee also included Minister of State for Finance Bilal Azhar Kayani, PM's Coordinator on Trade Rana Ehsan Afzal Khan, FBR Chairman Rashid Mehmood Langrial, and representatives nominated by the business community and chambers of commerce.
The committee will hold detailed deliberations over the next 30 days and present a consensus-based and workable solution to the prime minister and the federal cabinet. The business community openly shared their concerns and suggestions during the meeting, and the government expressed its commitment to take all stakeholders into confidence. It was agreed that every effort would be made to address traders' concerns related to transactions and to avoid causing any difficulties for the business community.
Meanwhile, President All Pakistan Anjuman-e-Tajiran Ajmal Baloch said that the traders will hold protest demonstrations across the country on July 26 against new amendments in the finance bill.
'We are waiting for the reply from PM Office, and in the meantime our token protest will be held as per schedule, in the second phase we will go for token shutter down strikes,' Baloch said.
He slammed the bureaucracy and said that they work with deception, and if the government failed to take back the new powers given to FBR officers, we will increase pressure.
Copyright Business Recorder, 2025
