Traders reject Income Tax Ord, more autonomy to SBP governor

ISLAMABAD: The trader community has categorically rejected promulgation of the Income Tax Ordinance and giving more autonomy to the Governor State Bank of Pakistan (SBP).

“We strongly condemn and reject the promulgation of the Income Tax Ordinance,” Kashif Chaudhry, central president of the Markazi Tanzeem-e-Tajran Pakistan said while addressing a press conference here.

He regretted that promulgation of the presidential ordinance, which concerns interests of the people and nation as a whole particularly when the Parliament is functioning, is highly condemnable and amounts to paralysing the Parliament.

He said the government was getting ready to commit dacoity on pockets of masses by increasing electricity tariffs on dictation of the IMF. He said that by giving more authorities to the Governor State Bank of Pakistan, the government made him more powerful which would result in compromising the national interests.

Kashif Chaudhry, accompanied by other trader representatives, said the government, instead of giving relief to the industrial and trade sector, was burdening the people and business community with Rs700 billion additional taxes.

Kashif said that after consulting the trader organisations, they would hold a national level convention to devise future action plan in the wake of anti-business measures being taken by the government and ordered closing business for two days and week and reducing timings of business activity across the country.