LCCI slams FBR raids, calls for immediate halt

News Image

MG News | October 16, 2024 at 12:16 PM GMT+05:00

0:00

October 16, 2024 (MLN): The Lahore Chamber of Commerce & Industry has strongly protested against continues raids at business premises by the staff of the Federal Board of Revenue despite FBR Chairman’s clear assurance that no such action would be taken against business community.  

In a statement issued here, the LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan said that exploitation of business community is not acceptable.

Chairman Federal Board of Revenue should take notice of violation of his direction and stop officials to conduct raids otherwise business community would be left with no other option but to close down their businesses and take to the streets.

The LCCI office-bearers said that Chairman Federal Board of Revenue had announced to stop raids during his last visit to the Lahore Chamber of Commerce & Industry.

At the same time, Senate Standing Committee on Finance, Revenue, Economic Affairs, Statistics & Privatization had also made it clear that no such action could be taken without prior approval of the Chairman FBR.

Still, concerned staff has blown the orders into wind and conducting raids.

They said that the issue of misuse of discretionary powers by the FBR staff and raids of business premises is badly affecting the business environment as FBR officers are used to enter into the premises of tax filers along with the large number of security personnel for threatening and harassing them without the permission of Chairman of FBR or Member concerned.

They said that government should take immediate notice of unjustified action against business community as bureaucracy is also tarnishing the soft image of the present regime and promoting trust deficit between the government and the private sector.

The LCCI office-bearers said that Federal Board of Revenue should divert its attention towards broadening the tax net and should bring untaxed sectors into the tax net instead of crushing the existing taxpayers.

“How people could be encouraged to come into the tax net when existing taxpayers are being treated like criminals”, they questioned.

They demanded of the government to take notice of undue raids at business premises and also urged Chairman Federal Board of Revenue (FBR) to ensures implementation of his directions in true sense of word.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 184,129.58
798.69M
-1.97%
-3702.50
ALLSHR 110,763.73
1,266.28M
-1.85%
-2087.96
KSE30 56,278.51
173.32M
-2.19%
-1261.46
KMI30 259,907.89
102.57M
-2.03%
-5380.16
KMIALLSHR 71,198.64
822.49M
-1.72%
-1247.03
BKTi 53,693.69
102.25M
-2.59%
-1425.61
OGTi 37,589.24
28.20M
-2.72%
-1052.27
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 70,580.00 71,690.00
60,005.00
6785.00
10.64%
BRENT CRUDE 68.10 68.83
66.56
0.55
0.81%
RICHARDS BAY COAL MONTHLY 96.00 96.00
96.00
1.50
1.59%
ROTTERDAM COAL MONTHLY 102.75 103.25
101.30
2.25
2.24%
USD RBD PALM OLEIN 1,071.50 1,071.50
1,071.50
0.00
0.00%
CRUDE OIL - WTI 63.50 64.58
62.20
0.21
0.33%
SUGAR #11 WORLD 14.14 14.30
14.07
-0.13
-0.91%

Chart of the Day


Latest News
February 07, 2026 at 11:50 AM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


February 07, 2026 at 12:15 AM GMT+05:00

Weekly Market Roundup


February 06, 2026 at 09:31 PM GMT+05:00

Intermarket Securities appoints Khurram Bashir as Deputy CEO


February 06, 2026 at 07:30 PM GMT+05:00

SBP reserves rise to $16.16bn



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg