Karachi:
The federal government on Monday invited representatives of all trade bodies to talks after Karachi’s business community, and carriers announced a nationwide wheel-jam strike on July 19 in protest against certain budgetary measures introduced through the financing
AKT 2025.
When he spoke at the overseas investor chamber for trade and industry (OICCI) in Karachi, Finance Minister Muhammad Aurangzeb invited all chambers for trade and unions Tuesday (today) to discuss their concerns about the Finance Act.
The Minister’s offer of negotiations came after the goods Carrier Association -Leader Malik Shahzad Awan and Karachi Chamber of Commerce and Industry (KCCI) President Javed Bilwani approached a joint press conference on the strike call for July 19.
“All carriers will participate in KCCI’s strike on July 19.
KCCI called the strike against “five key measures” incorporated into the federal budget for the current financial year and 32 anomalies in the Finance Act. At the joint press conference, Bilwani made it clear that unless the government put all these measures in accordance, there would be a strike on July 19.
KCCI is against sections 37A and 37B of the Finance Act, as it claims, provides FBR with arbitrary arrest powers; Section 21 (s), which imposes on the harsh sanctions on cash transactions of RS200,000 or more; Mandatory digital billing under SRO 709; and the imposition of e-BILTY in accordance with section 40 ©.
At Oicci, the finance minister said he would listen to the position of all chambers and associations and also explain his attitude. “All chambers should come after reading the current law. We have put many protection measures in the law against turnover tax fraud and other questions,” he said.
Aurangzeb rejected the criticism as “propaganda” regarding the improved powers awarded to the Federal Board of Revenue (FBR), which, he said, aimed to counter large -scale turnover tax fraud. He said the additional powers apply to cases of over 50 million tax evasion and not to ordinary companies.
“The new legal tools have only been implemented to prevent fraudulent activity related to VAT,” Aurangzeb said. “An important meeting with presidents of chambers will be held tomorrow [today]. The government will explain the extent and intention of FBR’s actions to business leaders, “he said.
Earlier, Biliwani, the KCCI president, insisted on the demand for immediate withdrawal of the “controversial” sections of the Finance Act. He also called for the restoration of the final tax regime for exporters.
Bilwani revealed that KCCI was contacted by the Ministry of Finance and while other efforts were made to solve the problems through dialogue, but added that there had been no official security or notification to suspend the controversial measures.
“KCCI has requested the government to keep these issues in accordance until a mutually advantageous and constructive solution exists,” he said, warning that the strike “would not be postponed before and unless these requirements are fully accepted”.
In response to a query, Bilwani emphasized that the entire business community was fully united and KCCI continued “to receive overwhelming support” from all over the country. “More than 50 formal letters have been received from different business associations, confirming their solidarity with KCCI.”
