Forex dealers would be brought under the tax net, Gen Asim Munir assures businessmen

Following the depreciation of the Pakistani rupee against the US dollar, Chief of the Army Staff (COAS) General Asim Munir has announced plans to bring money exchanges within the tax framework.

The announcement was made on Sunday during a meeting with members of the business community at the Corps Commander’s Headquarters in Lahore.

COAS assured businessmen that measures would be taken to enhance transparency in dollar exchange rates and interbank transactions.

The Lahore Chamber of Commerce and Industry (LCCI) issued a statement detailing the meeting, which was attended by LCCI President Kashif Anwar, as well as prominent figures from the business community and Interim Punjab Chief Minister Mohsin Naqvi.

During the meeting, General Munir underscored the crucial role of the Special Investment Facilitation Council (SIFC) in attracting substantial investments, potentially reaching $100 billion from countries like Saudi Arabia, the UAE, Kuwait, and others.

To strengthen economic decision-making, General Munir announced the formation of task forces dedicated to economic matters and various sectors.

In line with the broader business community, Kashif Anwar recommended active engagement with all chambers to ensure diverse perspectives are considered within the task force’s agenda.

Addressing pressing concerns affecting the public, LCCI Chief Kashif Anwar proposed a reduction in income and sales tax rates on electricity bills. He emphasized that high taxation on electricity burdens both individuals and businesses, impacting daily lives.

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