Justice Aminuddin says investing in stocks, instead of keeping money in banks, benefits national economy
In a notable comment that could change the way Pakistan views its financial future, Justice Aminuddin Khan, head of the constitutional bench of the Supreme Court, urged citizens to take their savings out of banks and start investing in the stock market.
Justice Aminuddin’s comments were made citing Indian court rulings supporting a principle of uniform taxation, which he believes could benefit Pakistan as well. His suggestion, which aligns with global investment trends, aims to benefit the national economy.
During a hearing on supertax-related petitions on Wednesday, he drew attention to India’s approach to investing in stocks, highlighting how the Indian public has embraced the stock market for years.
He stressed that Pakistanis should do the same. “Investing in stocks, rather than keeping money in banks, would directly benefit our economy,” he said, emphasizing the crucial role of investment in national economic growth. This call to action comes as part of broader debates about tax policy.
The court is currently hearing several petitions from companies challenging the super tax, an additional levy on high-income individuals and industries introduced in Pakistan’s federal budget for 2022-23. The law was primarily aimed at large corporations in sectors such as cement, steel, sugar and textiles, among others, to generate revenue for economic stabilization.
