LCCI urges govt to find out viable solution

LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) Tuesday feared that calls for strikes against implementation of withholding tax on bank transactions would cause undue damage to the economic activities and affect the government efforts aimed at progress and prosperity of the country.

LCCI President Ijaz A. Mumtaz here demanded of the government to resolve the issue through negotiation to deter the traders from more strikes. "Since country is well on the way to economic revival and cannot afford strikes of traders who are the backbone of economy," he observed.

Ijaz A. Mumtaz suggested the government to take business community on board and find out a viable solution for all stakeholders. Definitely, he said broadening of tax base was need of the hour for which untaxed sectors must be brought into the tax system. Formation of a committee and cut in withholding tax, he said, was a step in right direction, however, business community was not satisfied yet and wanted complete withdrawal of this tax.