Peshawar   -   Sarhad Chamber of Commerce and Industry (SCCI) president Fuad Ishaq emphasized the necessity for the success of the ‘Tajir Dost Scheme’, suggesting its approval by Parliament for the next 20 years, alongside providing sovereign guarantees not to impose any new tax on the business community after the scheme’s implementation.

The SCCI chief demanded reform initiatives to simplify the taxation system and reduce the tax rate to a single digit. He stressed the elimination of double taxation and urged for traders to be facilitated under a one-window operation. Additionally, he called for close liaison and coordination between chambers, the business community, and tax-collection authorities to take joint measures for the amicable resolution of traders’ issues.

Fuad Ishaq expressed these views while addressing members of the business community during the visit of Chief Commissioner, Regional Tax Office Peshawar Zafar Iqbal. The meeting was attended by SCCI office bearers, former presidents, former vice presidents, executive members, traders, importers, and exporters.

Chief Commissioner RTO Zafar Iqbal and other officials briefed participants about the importance and benefits of Tajir Dost Scheme, which aimed at broadening the existing tax net.

Fuad Ishaq highlighted that Pakistan annually pays Rs8 trillion on debt servicing for internal and external loans, which equals the revenue generated through various taxes, indicating its insufficiency for the country’s progress. He urged for broadening the tax base by avoiding imposition of new taxes on existing taxpayers. He emphasized the need to redirect policies to make them favorable and friendly for business, trade, and industry, envisioning Pakistan’s elevation to the ranks of developed nations.

Fuad Ishaq suggested that the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), regional chambers, Institute of Chartered Accountants of Pakistan, and the economic wing of the military establishment jointly prepare the fiscal budget.