Prime Minister Shehbaz Sharif assured retailers that no additional tax burden would be placed on those already in the tax net, stressing the government’s commitment to supporting compliant businesses.
Speaking to a delegation from the Pakistan Retail Business Council in Islamabad on Friday, the PM outlined various steps to improve the economy and address key issues faced by the retail sector.
He directed the formation of a committee to address the concerns of retailers, while stressing that efforts are underway to bring all non-compliant retailers into the tax system on a priority basis.
He further highlighted the government’s focus on creating a cashless economy and making reforms within the Federal Board of Revenue (FBR) to streamline the taxation process.
In his address, the PM also discussed the government’s initiatives to curb smuggling, particularly of used goods, and encouraged local industries to innovate and adopt modern technologies to enhance exports and stay competitive in the international market.
The delegation praised the government’s reforms and expressed confidence that these steps would contribute to long-term economic stability.
They also acknowledged that bringing more retailers into the tax net would increase government revenue and appreciated the government’s efforts to resolve the issues of tax-compliant retailers.
