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ISLAMABAD: A parliamentary committee reviewed the government’s proposed scheme for retailers on Wednesday, as top finance ministry officials claimed that around two million shopkeepers would be registered under the initiative to generate an additional Rs50 billion for the exchequer.
State Finance Minister Bilal Azhar Kayani briefed the National Assembly’s Standing Committee on Finance on its structure and expected outcomes. He described himself as the “architect of the initiative”.
Naveed Qamar chaired the meeting and focused on assessing the key features and implementation strategy of the scheme.
Mr Kayani informed the committee that more than 3.5 million retailers across the country remain outside the tax net, based on commercial electricity connections, while only 660,792 are currently registered. “There are extensive opportunities for the FBR to expand the tax net within the retail sector,” he added.
