Karachi, July 2, 2025 – In a bold and fiery stance, the Pakistan Yarn Merchants Association (PYMA) has launched a sharp offensive against what it calls the “excessive and draconian authority” granted to the Federal Board of Revenue (FBR) under the newly passed Finance Act, 2025.
Raising serious alarm, PYMA has fiercely opposed the inclusion of Articles 37-A and 37-B in the Sales Tax Act, terming them an open invitation to harassment and unchecked power. In an urgent appeal to Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and FBR Chairman Rashid Mehmood Langrial, PYMA demanded the immediate rollback of these provisions, which it claims have created chaos and panic within the business community.
PYMA Chairman Muhammad Saqib Goodluck didn’t hold back, labeling the new clauses as “BLACK LAWS” and warning that they grant FBR field officers dangerous new levels of authority. “These provisions are nothing short of legislative overreach. They empower tax officials to target businesses based merely on suspicion — this is a recipe for abuse,” he said.
The authority bestowed on FBR under these laws, he argued, is not only excessive but destructive. “Instead of nurturing business confidence, the government has weaponized taxation. How can entrepreneurship thrive in an environment of fear?” Goodluck asked.
He stressed that if the government genuinely aims to boost tax revenues, it must abandon coercive tactics and adopt business-friendly reforms. “Authority must be exercised with accountability,” he asserted, “not used as a blunt instrument to pressure honest entrepreneurs.”
According to PYMA, these controversial amendments will shrink the tax base rather than broaden it, stifle industrial growth, and drive investment away. The association strongly believes that over-delegation of authority without checks and balances is economically suicidal.
Calling for urgent intervention, PYMA urged policymakers to reverse course and replace fear-driven regulation with a vision of economic empowerment. “Only through genuine support can businesses thrive — and a thriving business sector is the backbone of national prosperity,” the association concluded.