English Press Release 05.06.2018

FAISALABAD. Tax Amnesty Scheme will help Pakistan to refurbish its dwindling foreign exchange reserves and after the approval of tax amnesty scheme by National Assembly (NA) as well as Senate, the politician should avoid to create doubts about the future of this scheme. Addressing a meeting of business community, Mr. Shabbir Hussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI) said that the tax amnesty scheme will give a onetime boost to the national economy with induction of maximum foreign exchange and addition of new tax payers. He said that according to available information, 150 billion dollar has been invested by Pakistani in other countries and out of it approximately 42 billion have been invested in the Real Estate sector of other countries. He said that if Pakistan succeeded in attracting half of it through this scheme, it will be a big achievement as it will not only strengthen our foreign exchange reserves but also add new tax payers on permanent basis. He said that government has completed all formalities as tax amnesty scheme has been endorsed by NA and Senate and hence, there is not legal lacuna left in its authenticity. He said that just for the sake of politics, some elements are creating doubts about the future of this scheme which will inflict colossal lose to the national economy. He said that as Pakistan is facing actuate shortage of dollar and hence, at this moment this scheme is in best interest of the National Economy and our politician should avoid creating doubts about this scheme so that maximum foreign exchange could be repatriated and involved in the mainstream. “The induction of foreign exchange will stabilize economy at this crucial time as Pakistan is starved of foreign exchange”, he added.

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