Chief of Army Staff General Asim Munir on Sunday assured that money exchanges will be taxed to promote transparency in US Dollar exchange and interbank rates.
He further emphasized the role of the Special Investment Facilitation Council (SIFC), in its potential to attract investments of up to $100 billion from countries like Saudi Arabia, the UAE, Kuwait, and others. He said this in a meeting with the President of the Lahore Chamber of Commerce & Industry (LCCI) Kashif Anwar, alongside prominent business figures and interim Chief Minister of Punjab Mohsin Naqvi.
In line with the broader business community, LCCI President Kashif Anwar advocated for all chambers to join forces in order to support this task force agenda. He recommended lowering income and sales tax rates on electricity bills, while also suggesting the collection of fuel adjustment costs during the winter months when power consumption is lower.
The LCCI President also advocated for increased control over US dollar rates in both interbank and open markets. He explained that the difference between the interbank and hundi rates frequently leads to a preference for informal channels for remittances, which should flow naturally through the central bank if these rates were aligned.
He proposed incentives for the grey economy to shift towards the formal channel, warning that increasing the tax base would be difficult as long as the grey sector remains undocumented.
He urged political parties to work together, proposing the signing of an economic charter as a precondition for holding elections.
General Asim Munir assured that money exchanges will be taxed to promote transparency in USD exchange and interbank rates. To improve economic decision-making, he announced the formation of task forces particularly for addressing economic issues and various industries.
Army chief or FBR chief?
Apnay kaam kay illawa kuch bhi kara lo is mistri say
This is not your job. Half of Pakistan is a no go region for ordinary Pakistanis. What are you doing to make Pakistan secure?. Also why you are protecting the Real State Mafia of Pakistan and doing everything so that they will not pay any taxes?. Your own people are involved and a part of real state mafia. So no income tax and no real taxes on the real state sector.
The kingmaker is promising to be the saviour.
If you are sincere then bring Agriculture, Retailers, Jewellers and Real state sector into tax net. Property dealers are enjoying tax free life and they are billionaires . Can you take action against the sector in which your own people are Involved?
Hand over this country to army, tehy will be doing everything, agri, income tax, mineral, consteuction and so, and we are just slaves working for them.