Might 05, 2025 (MLN): The federal government’s current financial measures, together with the brand new Earnings Tax Ordinance and the inclusion of jewellers below the Designated Non-Monetary Enterprise and Career (DNFBP) class, have drawn robust criticism from the All Pakistan Sarafa Gems and Jewellers Affiliation.

He said that subjecting jewellers to anti-money laundering legal guidelines is a focused conspiracy.

The federal government claims jewellers promote gold with out verification and hold no file of consumers' monetary data.

Nevertheless, the reality, Shikarpuri argued, is that people concerned in cash laundering keep away from buying jewelry altogether on account of resale losses ranging between 20% to 25%, which they can’t afford.

Qasim Shikarpuri identified that the enterprise group is already below immense monetary stress, and these further burdens are nothing however humiliation.

He emphasised that influential people and enormous traders proceed to evade taxes, whereas the Federal Board of Income (FBR) is concentrating on solely these merchants who pay taxes truthfully.

Opposite to the finance minister’s claims, corruption inside the FBR stays rampant, particularly in using Level of Sale (POS) units, which has turn out to be a supply of month-to-month corruption.

Granting extra authority to discipline officers, he warned, will solely enhance bribery and exploitation, additional crushing the lower-income class.

The Affiliation has demanded that the federal government not shift the burden of its administrative failures and monetary troubles onto the enterprise group.

The present tax coverage, it said, straight contradicts the pursuits of merchants and raises critical considerations.

The affiliation reaffirmed its dedication to defending the professional rights of merchants and introduced plans to lift its voice strongly in any respect out there boards.

It referred to as for the rapid withdrawal of the Earnings Tax Modification Ordinance and the unjust actions towards jewellers.

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Posted on: 2025-05-05T16:19:44+05:00

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