Prime Minister Shehbaz Sharif has taken note of a proposal to authorize the arrests of merchants involved in fiscal fraud, after increasing concerns expressed by the country’s business community.
The issue was discussed during a high -level meeting chaired by Prime Minister on Monday. The Minister of Finance, Muhammad Aurengzeb, president of the Federal Income Board (FBR), and senior legal officials were present.
According to officials familiar with discussions, the finance bill includes a provision that would allow FBR to arrest the persons involved in fiscal fraud, with sanctions that extend up to 10 years in prison.
The measure has caused criticism from the Pakistan business community. The Pakistan Business Council formally wrote to the prime minister, urging a review of the execution powers proposed by the FBR.
The sources said that the prime minister was informed about the possible legal and economic implications of the measure and has requested more deliberations before making any final decision.
The FBR states that the powers are necessary to address persistent tax evasion, which continues to hinder the country’s income collection. However, critics and members of the business community argue that such powers, if they are not controlled, could be misused and damage business confidence.
In addition, presiding over a review meeting on the development of the IT training ecosystem, the prime minister emphasized the need to equip young people in the country with advanced skills to boost local transformation and increase employment.
He said that training programs must be aligned with market needs to ensure that young people are employed both nationally and internationally.
Sharif added that efforts would be made to guarantee a constant supply of qualified IT professionals to local companies, allowing them to comply with global standards and contribute to currency gains.
