Small traders: Govt urged to introduce fixed tax regime

ISLAMABAD: Jamshaid Akhtar Sheikh, Acting President Islamabad Chamber of Commerce and Industry (ICCI) on Sunday urged the government to introduce fixed tax regime for small traders in the forthcoming budget that would help in broadening the tax base and improving tax revenue of the country.

He said this, while addressing a meeting of ICCI Traders Committee. He further said that if it was not possible to introduce fixed tax due to IMF, then the government should immediately revive the self-assessment tax system as it had earlier boosted tax revenue while the business community was also satisfied with it.

He said that though the government has to increase petroleum prices to meet the IMF conditions, however, urged to take all possible measures to save people from inflation and business activities from further trouble.

Khalid Chaudhry, Convener Traders Committee, Khalid Iqbal Malik Chairman Founder Group and representatives of other markets were present at the occasion.

Founder Group Chairman Khalid Iqbal Malik and former President ICCI Muhammad Ijaz Abbasi said that the business community was playing a key role in the development of the economy and urged the CDA and MCI to solve their problems on priority basis.

They said that due to non-availability of parking in the markets, traders were facing a lot of difficulties and urged to provide parking facility in all the markets.

They said that CDA in collaboration with the market associations should remove encroachments from the markets and move the wheelbarrows out of I-10, I-11 and other markets to a separate place as the market business is affected due to wheelbarrows.