Retaliation: Businessmen oppose fixed income tax

Ask government to reframe economic policies.


Express May 13, 2011

FAISALABAD:


Businesspersons associated with the Faisalabad Chamber of Commerce and Industry (FCCI) have rejected the government’s proposal for a fixed income tax on shopkeepers and small traders, terming it harsh and unrealistic.


In a statement issued on Friday, FCCI members said that shopkeepers and traders would resist moves by the government to impose the fixed income tax on the trading community. They pointed out that the country was already experiencing tough times and the economy faced a slowdown due to a number of reasons.

In such a critical scenario, the government ought to take into confidence representatives of traders and industrialists and formulate policies for putting the country on the path of prosperity, they pointed out.

They added that due to the worsening law and order situation, acute power and gas outages, above average increase in prices of petroleum products and slump in business activity, the trading community was having a tough time running businesses.

Published in The Express Tribune, May 14th, 2011.

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