PYMA rejects Rs6,000 tax on power bills of small businesses

KARACHI: Saqib Naseem, Chairman Pakistan Yarn Merchants Association (PYMA), Muhammad Junaid Teli, Vice Chairman, Sindh & Balochistan region, has rejected the imposition of Rs6,000 tax on small business’s electricity bills, and demanded Finance Minister Miftah Ismail to withdraw the tax, requesting that stakeholders must be consulted before imposing any tax.

They said that imposing taxes on small businesses and shops is completely unfair, especially at a time when the rupee is constantly depreciating and the dollar is rising. Due to which the cost of doing business has increased enormously, and it is becoming very difficult for the business community to do business.

They termed the excess utility charges as a cause of cost increase and said that the business community is very worried due to the expensive electricity, and now imposing a tax of Rs6,000 on electricity bills will kill small traders and businesses, resulting in the unemployment of lakhs of workers.

Saqib Naseem, Junaid Teli requested Finance Minister Miftah Ismail not to impose excessive burden on traders considering the current economic situation. In the best interest of the economy, withdraw the decision to impose a tax of Rs6,000 on small businesses, shops.

Copyright Business Recorder, 2022