The Finance Ministry informed the National Assembly on Wednesday that a total of 76,259 traders have registered under the Tajir Dost Scheme, a voluntary tax collection initiative launched in March 2024. The scheme aims to bring unregistered businesses into Pakistan's existing tax system in line with the requirements of the International Monetary Fund (IMF).

According to the Finance Ministry’s written response, the registration process is ongoing, with Lahore leading the tally at 29,735 registered traders, followed by 11,585 in Rawalpindi, 8,138 in Karachi, and 6,563 in Islamabad.

The Tajir Dost Scheme is projected to generate an annual revenue of Rs 400 to 500 billion for the national exchequer. The Federal Board of Revenue (FBR) has urged all unregistered wholesalers, retailers, dealers, and shopkeepers to enroll in the scheme to contribute to the nation’s tax base.

Despite the initiative's goals, the business community has raised concerns, describing the scheme's introduction as “inappropriate” and in deviation from established procedures. Many traders are wary of the government’s efforts, which they believe resemble a previous initiative proposed during former Prime Minister Shaukat Aziz’s tenure. That initiative faced strong opposition and led to nationwide strikes by traders.

Economists have pointed out the longstanding challenges in Pakistan's tax system. They reveal that out of an estimated 3.2 to 3.5 million businessmen in the country, only 300,000 are registered with the FBR, and a mere 150,000 regularly pay income tax. Experts emphasize the disparity in tax compliance and note that the current scheme’s success hinges on effective integration and building trust within the business community.