Karachi:
The Federal Government on Monday invited representatives of all trade agencies for conversations after the business community and Karachi carriers announced a strike throughout the country of Jamio on July 19 in protest against certain budgetary measures introduced through financing
Law 2025.
Speaking in the Chamber of Commerce and Industry of Investors abroad (OICCI) in Karachi, the Minister of Finance, Muhammad Aurengzeb, invited all the Chambers of Commerce and Commercial Associations on Tuesday (today) to discuss their concerns about the Finance Law.
The Minister’s conversations offer took place after Javed Bilwani, president of the Chamber of Commerce and Industry of the Association of Product Producers, Javed Bilwani, went to a joint press conference of the Karachi Chamber of Commerce and Industry (Kcci), Javed Bilwani went to a joint press conference on the call to the strike for July 19.
“All transporters will participate in the Kcci strike on July 19. The Wheel Jam strike will continue until the KCCI demands are met. We are also prepared for a longest strike,” said Malik Shahzad Awan to the media.
The KCCI described the strike against “five key measures” incorporated in the federal budget for the current fiscal year and 32 anomalies in the Finance Law. At the joint press conference, Bilwani made it clear that, unless the Government puts all these measures suspended, there would be a strike on July 19.
The KCCI opposes sections 37a and 37b of the Finance Law, which according to him, empowers the FBR with arbitrary arrest powers; Section 21 (s), which imposes hard sanctions on cash transactions of RS200,000 or more; Compulsory digital billing under Sro 709; and the imposition of e-bilty under section 40 ©.
In the OICCI, the finance minister said he would listen to the position of all the cameras and associations and also explain his position. “All cameras should come after reading the current law. We have put many safeguards in the law against sales tax fraud and other issues,” he said.
Aurengzeb dismissed criticism as “propaganda” with respect to improved powers granted to the Federal Income Board (FBR), which, he said, aimed to counteract tax fraud to large -scale sales. He said that additional powers apply to cases of more than 50 million rupees of tax evasion and not in common business.
“The new legal tools have been implemented only to avoid fraudulent activities related to sales tax,” said Aurengzeb. “Tomorrow an important meeting will be held with chambers presidents [today]. The Government will explain the scope and intention of FBR actions to business leaders, “he said.
Previously, Biliwani, the president of Kcci, insisted on the demand for the immediate withdrawal of the “controversial” sections of the Finance Law. He also requested the restoration of the final tax regime for exporters.
Bilwani revealed that the Ministry of Finance was addressing the KCCI, and while other efforts were being made to solve problems through dialogue, but added that there had been no official guarantee or notification to suspend controversial measures.
“The KCCI has asked the Government to maintain these matters in suspense until a mutually beneficial and constructive solution is found,” he said, warning that the strike would not postpone until these demands are totally accepted. “
In response to a consultation, Bilwani emphasized that the entire business community was completely united and Kcci continued “to receive overwhelming support” from all over the country. “More than 50 formal letters from several commercial associations have been received, reaffirming their solidarity with the Kcci.”
