ISLAMABAD
\nAll Pakistan Business Forum (APBF) President Syed Maaz Mahmood emphasized that real stakeholders\u2014particularly businessmen\u2014must be taken into confidence before laws are formulated, as their role is central to the economy and policy success.
\nHe stressed that the government must engage directly with the business community to seek feedback and foster ownership of economic reforms. \u201cWe have observed that in the absence of proper stakeholder consultation, laws are often misused by officials of government departments for their own vested interests,\u201d he warned.
\nSyed Maaz Mahmood, in a press release issued here today, called for safeguards to prevent such exploitation and underscored the need for transparency, dialogue, and trust-building to ensure smooth implementation of tax policies.
\nHe took note of the federal government\u2019s recently introduced tax-related policy decisions aimed at documenting the economy, broadening the tax base, and encouraging digital transactions.
\nWhile expressing general support for the objectives behind these reforms, APBF leadership has urged the authorities to ensure that the rollout of new measures is handled with clarity, fairness, and coordination to prevent disruption for businesses\u2014particularly small and medium enterprises.
\nSyed Maaz Mahmood appreciated the government\u2019s resolve to build a transparent tax culture and limit undocumented financial activity. He noted that global best practices encourage traceable, non-cash transactions, and Pakistan\u2019s journey toward such a model is both timely and essential.
\nHowever, he pointed out that the private sector\u2019s cooperation depends on the government\u2019s ability to strike a balance between enforcement and facilitation.
\nAPBF Chairman Ibrahim Qureshi echoed the sentiment, stating that Pakistan\u2019s economy is at a pivotal juncture where structural improvements in tax compliance can yield long-term benefits. He added that while deterrents for fraudulent behavior are justified, they must be accompanied by safeguards to ensure genuine businesses are not unnecessarily penalized or subjected to procedural bottlenecks.
\nThe APBF leadership offered friendly advice to policymakers, suggesting that effective communication and stakeholder engagement would enhance the success of recent fiscal amendments.
\nIn particular, there is a need for clear guidance around the treatment of cash-based transactions and the recently enacted clauses that disallow a portion of expenditures in cases where payments exceed Rs200,000 without using banking channels.
\nThe forum also advised a gradual adjustment period for the implementation of these clauses so that businesses can align their accounting and procurement practices with the new requirements.
\nOn the issue of granting arrest powers to the tax authority in cases of suspected fraud, the forum emphasized the importance of judicial oversight and institutional checks.
\nRather than criticizing the initiative, the APBF stressed that such provisions must be exercised with restraint and legal transparency to avoid misuse or fear among compliant taxpayers.
\nPresident Maaz Mahmood said that most responsible businesses are ready to adapt, but they require time, technological support, and a clear understanding of the operational changes involved.
\nThe forum assured the government of its willingness to collaborate in public outreach efforts, policy feedback loops, and awareness campaigns designed to equip the business community with the tools needed for smooth compliance.
\nWhile the APBF expressed satisfaction that the government is taking strong action to curb tax evasion and undocumented trade, it urged that the voice of legitimate businesses be heard and addressed during the implementation phase. Reforms are more effective, the forum noted, when they are co-owned by the stakeholders who are subject to them.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD All Pakistan Business Forum (APBF) President Syed Maaz Mahmood emphasized that real stakeholders\u2014particularly businessmen\u2014must be taken into confidence before laws are formulated, as their role is central to the economy and policy success. He stressed that the government must engage directly with the business community to seek feedback and foster ownership of economic reforms. […]<\/p>\n","protected":false},"author":2,"featured_media":436990,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-490114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n