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Lahore: The Lahore Chamber of Commerce and Industry (LCCI) has publicly condemned the Federal Board of Revenue’s (FBR) recent raids on local industrial units, criticizing the actions for causing significant disruptions and fostering a climate of fear among business owners. The LCCI is urging immediate intervention from high-level government officials to prevent further harm to the business community.
According to Lahore Chamber of Commerce and Industry, LCCI President Mian Abuzar Shad expressed serious concerns over the tactics employed by the FBR, which include conducting raids without prior notice, registering FIRs prematurely, and demanding CFOs to sign affidavits asserting legal compliance of their extended networks—demands deemed unreasonable by the Chamber.
During a well-attended meeting of local industrialists, numerous business owners shared distressing accounts of their encounters with these FBR operations. They described how these abrupt actions have diverted essential resources away from productivity and growth, negatively impacting their operations.
“The FBR’s approach not only hinders our businesses but also jeopardizes Pakistan’s broader economic recovery,” stated Mian Abuzar Shad. He stressed the need for a rational and transparent process that includes issuing show-cause notices and conducting thorough investigations before taking any legal action. This would ensure businesses have a fair opportunity to respond to allegations of non-compliance.
The LCCI President further criticized the FBR for failing to adequately monitor taxpayers, suggesting that this neglect should not be shifted onto the business community as blame. He argued that the aggressive stance of the FBR is counterproductive, undermining efforts to stimulate economic growth and attract investments to Pakistan.
In his concluding remarks, Mian Abuzar Shad called on Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb to curb the FBR’s excessive measures and align its operations with due process and fairness. He emphasized that fostering a supportive business environment is crucial for economic stability and growth, and he urged the government to take decisive steps to address these issues promptly.
The LCCI reaffirmed its dedication to protecting the interests of businesses and promoting a conducive atmosphere for industrial growth in Pakistan, warning that failure to resolve these issues could have severe long-term effects on the nation’s economy.
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