KP’s business community urges FBR to defer implementation of POS system

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PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) on Monday urged the Federal Board of Revenue (FBR) to defer the enforcement of the point of sale (POS) system for one year in order to facilitate the business community, which has been negatively affected by the Covid-19 induced economic slowdown.

SCCI President Engineer Maqsood Anwar Pervaiz during a meeting with traders and retailers said that the FBR had issued instructions to all tier-I retailers to integrate with its POS (linked invoicing system) before August 31, 2020.

SCCI chief said that businesses have incurred huge financial losses due to the prolonged coronavirus lockdown adding that the implementation of the POS system would be completely unjust and unfair under the prevailing circumstances. He demanded that the enforcement of the POS system should be deferred for one year in order to provide relief to the business community.

While praising the issuance of payment of refunds to the business community, Maqsood Pervaiz urged the FBR to further accelerate the release of refund payments.

He said that the business community has played a pivotal role in the economic development of the country while urging the government to take practical steps to facilitate the business community.

The SCCI president expressed concerns over raids and arrests of traders on pretext of ‘anti-encroachment drive’ and stressed that the business community has always extended cooperation towards the local administration and fully adhered with its laws and rules.

He urged the district authorities to give due respect to the business community.

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