Site Association Demands Immediate Withdrawal of SRO 350

Site Association Demands Immediate Withdrawal of SRO 350

Karachi, June 30, 2024 – The Site Association of Industry President, Muhammad Kamran Arbi, has once again demanded the government to immediately withdraw the SRO-350, citing its ambiguous nature and the difficulties it has caused for the business community.

In a press statement, Arbi highlighted that the major public utility company, Sui Southern Gas Company (SSGC), has been unable to file their sales tax return for the tax period of May 2024 on time due to the complications arising from SRO-350. This delay has led to a cascade of non-filings by a vast majority of industries, resulting in exorbitant sales tax liabilities and unnecessary distress.

The Site Association has reiterated its request to the Federal Board of Revenue (FBR) to extend the filing deadline for the May 2024 tax period by an additional week to accommodate the affected businesses. Arbi pointed out that since the issuance of SRO-350(I)/2024 in March 2024, it has consistently posed problems for the business community. The regulation’s stringent requirements, often unmet by the deadline, have forced businesses to incur undue tax liabilities through no fault of their own, added by the president of the Site Association.

Arbi criticized the FBR, stating that SRO-350 has exposed the half-baked nature of their policies and implementation. He stressed that the business community has repeatedly raised this issue, even during a meeting with the Honourable Prime Minister of Pakistan in April in Karachi. During this meeting, industry representatives collectively requested the Prime Minister to issue orders for the withdrawal of SRO-350. Despite these appeals, the ambiguity and uncertainty surrounding the timely filing of sales tax returns and the imposition of unreasonable sales tax liabilities continue to unsettle businesses and industries already facing challenging times, added by the president of the Site Association.

The Site Association President has made a heartfelt appeal to the Honourable Prime Minister of Pakistan, the Finance Minister, and the Commerce Minister to take immediate action. He urged them to recognize the severity of the situation and issue orders to withdraw SRO-350 forthwith to ensure the smooth functioning of businesses and industries that are already struggling.

In conclusion, the Site Association of Industry stands firm in its demand for the immediate withdrawal of SRO-350, emphasizing the need for clear and practical policies that support, rather than hinder, the business community. The association continues to advocate for the interests of its members and seeks urgent intervention from the highest levels of government to resolve this pressing issue.