SCCI calls for simpler tax policies to boost business growth

Sialkot    -   The Sialkot Chamber of Commerce and Industry President Abdul Ghafoor Malik has urged for a reassessment of tax policies, highlighting that traders are ready to fulfil their tax obligations but are deterred by the complexities involved. He emphasised the necessity of adopting business-friendly policies to broaden the tax base. During an SCCI meeting, Malik outlined recent changes in sales tax laws, such as constraints on cash transactions for manufacturers and mandatory POS registration for retailers engaging in purchases exceeding Rs4 million. He expressed concern that these measures could impede business growth, particularly affecting manufacturing units now subject to withholding. Malik also pointed out that digitisation, if not complemented by adequate documentation, would pose additional challenges for traders. He cited currency devaluation, escalating inflation, and stringent governmental regulations as major hurdles confronting the business community. The meeting was attended by prominent figures including Riazuddin Sheikh, Group Leader of the Sialkot Chamber; Fazal Jilani, Chairman of Air Sial; Hasan Bhatti, Chairman of Sialkot International Airport; Humayun Sheikh, General Secretary of the Business Community; and other industry leaders from sectors like Surgical Instruments, Gloves, Sports Goods, and Soccer Ball manufacturing.

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