Mr. Atif Ikram Sheikh, President FPCCI; President ECO-CCI and VP CACCI, has informed that Mr. Haroon Akhtar Khan, Special Assistant to Prime Minister (SAPM) for Industries & Production, has assured a high-profile FPCCI delegation that the government will review the Tax Laws (Amendment) Ordinance, 2025 – in the light of apex body’s recommendations to help resolve the profound grievances of the entire business, industry and trade community of Pakistan. It is a resounding success of the rigorous policy advocacy endeavours on this critical issue of national significance, he added.
It is pertinent to note that Mr. Atif Ikram Sheikh led a senior delegation of the business community to hold talks with Mr. Haroon Akhtar Khan on the Tax Laws (Amendment) Ordinance 2025, the high-handedness of the Federal Board of Revenue (FBR), tax and tariff barriers to doing business in the country, and the issues of Dangerous Petroleum Liquids.
FPCCI Chief maintained that all chambers, trade bodies, and associations have grave reservations and apprehensions about Income Tax (Amendment) Ordinance 2025. Instead of enhancing tax collection, streamlining the taxation system, or expediting digitalization, it will give rise to avenues of harassment, corruption, and maladministration.
Mr. Atif Ikram Sheikh explained that it is an established fact and practice globally that the more a tax collector is allowed to intervene or interact with the taxpayer, the more it is likely to undermine that principles of fairness, transparency and impartiality due to the increased role of human-to-human interaction and human judgement becomes a nuisance. Therefore, we do not need to reinvent the wheel in this matter, he added.
Mr. Haroon Akhtar Khan reiterated his commitment to playing a proactive role in resolving the problems faced by the business community. Additionally, he informed that the Prime Minister, Muhammad Shehbaz Sharif, has given clear instructions to formulate problem-solving committees and advised to take business community on board in the policymaking consultations.
Mr. Saquib Fayyaz Magoon, SVP FPCCI, apprised that, during the meeting with SAPM, he decided to extend the 6-month exemption granted till May 25, 2025 by another 6 months vis-à-vis Dangerous Petroleum Liquids on FPCCI’s demand.
We need to define DPL well and resolve the transportation, availability, storage and regulatory issues vis-a-vis important raw materials for the industry and manufacturing in the form of chemicals.
Mr. Hamid Arshad Zahur, Chairman of Pakistan Tanners’ Association and Mr. Haroon Ali Khan, Chairman of Pakistan Chemical Manufacturers Association (PCMA), were also part of the FPCCI delegation.
