Karachi, February 3, 2025 – The Pakistan Chemical and Dyes Merchants Association (PCDMA) has expressed concerns over the complexities arising from SRO 55(I)/2025, issued by the Federal Board of Revenue (FBR), and its potential impact on traders.
The PCDMA highlighted that the newly introduced conditions under SRO 55(I)/2025, which mandate the submission of detailed monthly stock statements, consumption data, and intricate purchase, sales, and stock reports, pose significant challenges for traders. Many in the business community, particularly small-scale traders, are struggling to comply due to a lack of awareness and the complexity of the requirements.
Salim Valimuhammad, Chairman of PCDMA, emphasized that while the business community supports economic stability and does not oppose the FBR’s efforts, the implementation of such measures without adequate awareness creates difficulties. He stressed the importance of educating traders on the requirements before enforcing them to ensure smoother compliance.
“The lack of clarity surrounding the submission of stock details under SRO 55(I)/2025 makes it exceedingly difficult for small and medium-sized businesses to file their monthly sales tax returns on time. Many traders, especially importers and wholesalers operating on thin profit margins, cannot afford professional tax consultants to navigate these complex requirements,” he stated.
PCDMA urged the FBR to acknowledge the difficulties faced by traders and grant them an adjustment period before full enforcement of SRO 55(I)/2025. The association also called for organizing awareness sessions to educate businesses and streamline compliance procedures.
Addressing the FBR Chairman, Salim Valimuhammad suggested that instead of implementing such regulations abruptly, the FBR should engage in meaningful discussions with stakeholders, including PCDMA and other business associations. He proposed that policy decisions should be based on mutual consultation to ensure a more practical and business-friendly approach.
PCDMA believes that collaboration between the business community and government institutions is essential for sustaining economic growth. The association reiterated that both entities must work together to keep the economic engine running efficiently. If regulatory challenges persist without proper resolution, the country risks stalling economic activity and missing out on valuable revenue generation opportunities.
The PCDMA remains committed to working alongside the government to create an environment conducive to business growth while ensuring compliance with regulations in a practical and feasible manner.