ISLAMABAD: Chairman of the Senate Standing Committee on Commerce and Textile Industry, Senator Mirza Muhammad Afridi, has directed the FBR to solve the issue of NICs being needed for purchases of over Rs 50,000.
Speaking at a meeting of the standing committee, Afridi observed that NIC condition has shaken the foundations of the economy, and directed chairman FBR to find an acceptable solution within ten days.
He further said that the people of Pakistan are proud of the services rendered by the business community, and acknowledged their contribution in the national development.
Presiding over a meeting here on Saturday, Mirza Muhammad Afridi said that the limping economy can come out of the stagflation if businesses are allowed to operate otherwise poverty, unemployment and anxiety with continue to increase.
He said that the tax system has pushed the business community to the edge, therefore, taxes must be reduced and the procedure should be made simple.
The revenue cannot be increased amid shrinking GDP and the gulf between tax collectors and taxpayers is widening, he added.
The Senator noted that costly energy, interest rates, absence of continuity in policies, and instability has broken the back of the business community while FBR is treating businessmen as enemies.
Mirza Muhammad Afridi warned that if we failed to allay concerns of the business community, they would lose more in the export market while there is possibility of an exodus of industries to other countries.
