No more burden on retailers already in tax net: PM

Islamabad: Prime Minister Shehbaz Sharif has said that no further tax burden will be imposed on retailers who are in the tax net.

A delegation led by Pakistan Retail Business Council Chairman Zaid Bashir met with the Prime Minister who welcomed them and assured them of resolving their issues. The Prime Minister directed the concerned authorities to form a committee to resolve the issues of retailers.

Speaking on the occasion, Shehbaz Sharif said that no further tax burden will be imposed on retailers who are in the tax net. Steps are being taken on a priority basis to bring all retailers who do not pay tax into the tax net. Steps are also being taken to curb smuggling under the guise of used goods.

He stated that the local industry should adopt innovation and modern technology for the export of its goods so that it can compete in the international market. Along with other reforms of the FBR, the government is taking steps to make the economy cashless.

The participants of the delegation, while talking to the Prime Minister, said that they pay tribute to him and his team for the stability of the country's economy. The significant reduction in inflation and interest rates is increasing consumption and production, which is welcome. It is hoped that these measures will further reduce the inflation rate.

The participants stated that new employment opportunities are being created by the development of industries. Government reforms are welcome and will have far-reaching positive effects on the economy. Bringing retailers into the tax net will increase revenues. They appreciate the government's measures to solve the problems of such retailers who are in the tax net.