Karachi:  The Federal Board of Revenue (FBR) on Friday convened a meeting with representatives from various trade unions of the country aimed to addressing concerns raised by the trade and business community over implementation of the “Tajir Dost Scheme”.

The meeting was attended by Chief coordinator of the Tajir Dost Scheme Naeem Mir and other senior officials to foster a collaborative approach towards the success of scheme, said a press release issued by the FBR.

During the meeting, representatives of the trade unions emphasized the need for clear guidelines on taxation for newly registered traders under the Tajir Dost Scheme. They were of the view that retailers’ reluctance to register stemmed from ambiguity surrounding the taxation regime, potentially hindering the scheme’s effectiveness in enrolling traders.

Additionally, the representatives highlighted the absence of facilitation, tax exemptions or incentives to convince retailers to register under the scheme.

FBR officials and the Chief coordinator of the Tajir Dost Scheme agreed to consider the trade community’s reservations and recommendations. They asked them to submit a unified proposal within a week regarding the registration and taxation of traders under the scheme.

Furthermore, FBR affirmed its commitment to collaborate with all stakeholders involved in the registration drive to enhance tax compliance nationwide. FBR also urged the Trade Unions to cooperate with the Government in facilitating the registration of traders under the Tajir Dost Scheme.

The meeting reflects the commitment of FBR towards promoting tax culture across the country for sustained economic growth and reiterated  its dedication to fostering an environment conducive to trade and commerce, ensuring transparency and fairness in taxation policies.

Karachi: The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bullish trend on Friday, gaining 411.65 points, a positive change of 0.55 per cent, closing at 75,342.35 points against 74,930.70 points the previous trading day.

A total of 496,699,517 shares valuing Rs 17.631 billion were traded during the day as compared to 407,625,139 shares valuing Rs 16.987 billion on the last day. Some 386 companies transacted their shares in the stock market; 212 of them recorded gains and 153 sustained losses, whereas the prices of 21 companies remained unchanged.

The three top trading companies were Kohinoor Spinning with 44,618,981 shares at Rs4.85 per share,P.I.A.C (A) with 28,760,119 shares at Rs 24.31 per share and K-Electric Limited with 23,057,050 shares at Rs 4.57 per share.

Nestle Pakistan limited witnessed a maximum increase of Rs149.82 per share price closing at Rs 7429.82, whereas the runner-up was Ismail Industries Limited with Rs 104.14 increase to close at Rs 1,548.92. Services Industries Limited witnessed a maximum decrease of Rs 23.52 per share closing at Rs 778.03, followed by Khyber Textile Mills Limited with Rs 19.73 decline to close at Rs 460.73.

Islamabad:   Prime Minister Shehbaz Sharif on Friday extended warm congratulations to Lawrence Wong on becoming the Prime Minister of Singapore.

“This demonstrates continued trust and confidence of the founding generation and the people of Singapore in the abilities of the new Prime Minister to lead the country ahead”, PM Shehbaz Sharif wrote on his X timeline.

“Pakistan stands ready to strengthen bilateral relations with Singapore and expand cooperation in all areas of mutual interest,” he added.