Finance Minister Meets With Chairman PRBC To Discuss Retail Sector Challenges

Federal Minister for Finance and Revenue Muhammad Aurangzeb met with Ziad Bashir, Chairman of the Pakistan Retail Business Council (PRBC), and a delegation on Tuesday to discuss challenges faced by the retail sector.

Minister of State for Finance and Revenue Ali Pervez Malik also attended the meeting, according to a news release. The PRBC delegation expressed appreciation for the government’s efforts to improve the country’s economic conditions and extended their support for the Federal Board of Revenue’s Tajir Dost Scheme.

The delegation highlighted several challenges faced by retail businesses, particularly emphasizing the need to include the untaxed, undocumented retail sector in the tax net. They also proposed measures to encourage the documentation of businesses.

In response, the federal minister acknowledged their concerns and mentioned that McKinsey and Company has been engaged to assist with the Federal Board of Revenue’s (FBR) end-to-end digitalization, which aims to broaden the tax net. He also informed the delegation that Minister of State Ali Pervez Malik has been assigned to oversee this task on a daily basis to ensure its timely completion. The Minister of State appreciated the proposals submitted by PRBC.

Federal Minister Muhammad Aurangzeb thanked the PRBC delegation and assured them that the government would carefully consider their proposals for the benefit of the country and the business community.