Traders call 37A and 37B 21(S) of the Finance Act destructive and dangerous for business and industry.
Demand from the government to immediately abolish anti-business provisions: President Fazal Muqeem Khan
Bureau Chief, Dawn TV,Daily Dawn
Peshawar: President Sarhad Chamber of Commerce and Industry, Fazal Muqeem Khan, has announced full support for the peaceful nationwide strike on July 19, 2025, against the anti-business measures implemented through the recently passed Finance Act 2025. On Monday, President Sarhad Chamber Fazal Muqeem Khan called on Senior Vice President Abdul Jalil Jan, Chairman Anjuman Tajran Peshawar Shaukat Ali Khan, former presidents of Sarhad Chamber Zahidullah Shinwari, Haji Muhammad Afzal, Fawad Ishaq, members of the executive committee, Junaid Altaf, Nadeem Addressing a crowded press conference with Rauf, Abbas Fawad Azeem, Mujeeb-ur-Rehman, Sajjad Zaheer, Saifullah, Abdul Naseer, Shams-ur-Rahim, Adnan Nasir, Aftab Iqbal, Hassan Zahid, former senior vice presidents Naeem Butt, Sanaullah Khan, Imran Khan Mohmand, former vice presidents Javed Akhtar and Gul, Faiz Rasool, Fazal Wahid, Ehsanullah, Munawar Khurshid, Sikandar Iqbal, Mushtaq Ahmed, Pervez Khattak, Qurat-ul-Ain, Peer Dilawar, Tahir Nawaz, Secretary General of the Border Chamber Muqtasad Ahsan, traders and industrialists and others, Chamber President Fazal Muqeem Khan said that the dangerous provisions included in the Finance Act, which came into effect from July 1, 2025, especially sections 37A and 37B included in the Income Tax Ordinance, are harsh and destructive. Another worrying provision in the Finance Act is Section 21(S) under which any cash payment of Rs 2 lakh or more will not be considered as tax exemption even if the cash is deposited directly into the account of the supplier.
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