QUETTA: The president of the Balochistan chapter of Chamber of Small Traders and Small Industry, Haji Wali Khan, has appealed to Prime Minister Nawaz Sharif to rescind his government’s decision to impose withholding tax on banking transactions.
In a statement issued here on Sunday, he asked the government to introduce reforms in the taxation system and banking sector.
He claimed that businessmen had started taking their money out of banks after the imposition of withholding tax.
“Money is being diverted from banks to change hands between private parties. There is a report that businessmen have printed their own cheques to use them in business dealings,” he added.
Mr Khan said that imposition of withholding tax had created new non-taxpayers. The new situation had also created a possibility of job cuts in the banking sector.