Justice Aminuddin says investing in stocks instead of keeping money in banks benefits the national economy
In a remarkable comment that could change how Pakistan views its economic future, Justice Aminuddin Khan, head of the Supreme Court’s Constitutional Court, has urged citizens to move their savings out of banks and start investing in the stock market.
Justice Aminuddin’s remarks were made while citing Indian court judgments supporting a uniform principle of taxation, which he believes could also benefit Pakistan. His proposals, which are in line with global investment trends, are aimed at benefiting the national economy.
During a hearing on petitions related to the super tax 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 emphasized that Pakistanis should follow suit. “Investing in stocks, instead of keeping money in banks, would directly benefit our economy,” he said, stressing the vital role investment plays in national economic growth. This call for action comes as part of wider discussions on tax policy.
The court is currently hearing several petitions by companies challenging the super tax, an additional tax on high-income individuals and industries introduced in Pakistan’s 2022-23 federal budget. The law primarily targeted large companies in sectors such as cement, steel, sugar and textiles, among others, to generate revenue for economic stabilization.
