Peshawar, August 12, 2024 – The traders of Peshawar have vocally opposed the recent advance income tax collection measures introduced by the Federal Board of Revenue (FBR). During a crucial meeting held recently under the leadership of Malik Mehr Elahi, President of the Khyber Pakhtunkhwa Trade Association, the business community came together to condemn the new tax policies, describing them as detrimental to the local economy and unfairly burdensome.
The gathering, which saw the attendance of market presidents, business leaders, and other key representatives, was a direct response to the latest SRO issued by the FBR. Traders expressed their frustration over what they perceive as a double taxation scheme, pointing out that they are already paying a 10 percent advance income tax through their electricity bills. The community’s ire was further fueled by what they described as the ineffective Tajir Dost scheme, which they argue has failed to address their concerns and only exacerbated their financial strain.
“The new advance income tax Valuation Table is unacceptable,” declared Malik Mehr Elahi. “The government’s approach, which involves imposing additional financial burdens on businesses while continuing lavish expenditures, is unsustainable and unfair.” He added that the already high costs associated with electricity under existing power contracts are pushing many businesses to the brink of collapse.
Traders also voiced their dissatisfaction with the government’s failure to curb its own expenses while continuing to impose heavy taxes on the public. They criticized the preferential treatment enjoyed by the elite, including free utilities and other privileges, which they argue are not in line with the sacrifices being demanded from ordinary citizens and businesses.
Furthermore, the business community urged the government to lift restrictions on the real estate sector and address the soaring costs of medicines. They warned that the increased tax on pharmaceuticals has led to skyrocketing drug prices, making essential healthcare unaffordable for many and pushing some to the brink of despair.
The traders are calling for significant reform, including a drastic reduction in government expenditures and an immediate withdrawal of all excessive privileges granted to officials. They have warned that if their demands are not met, they will organize a province-wide protest and shutter down across Khyber Pakhtunkhwa.
In a final warning, the traders expressed their readiness to take their grievances to the streets, declaring that if the Tax Valuation Table Act is not repealed, the All Pakistan Anjuman Tajran will mobilize a large-scale protest. The business community’s unified stance highlights the growing tension between local entrepreneurs and government authorities, underscoring the urgent need for dialogue and reform to avoid further economic disruption.
