ISLAMABAD, (UrduPoint/Pakistan Point News – June 5, 2022): Jamshaid Akhtar Sheikh, Acting President of the Islamabad Chamber of Commerce and Industry (ICCI), on Sunday urged the government to introduce a fixed tax regime for small traders in the next budget which would help broaden the tax base and improve the country’s tax revenue.

He said this, while addressing a meeting of the ICCI Traders Committee.

He added that if it was not possible to introduce a fixed tax due to the IMF, the government should immediately relaunch the self-assessment tax system as it had previously increased tax revenue as the business community in was also satisfied.

He said that although the government must raise oil prices to meet the IMF conditions, he was however urged to take all possible measures to save people from inflation and business activities from further problems.

Khalid Chaudhry, Convener Traders Committee, Khalid Iqbal Malik Chairman Founder Group and representatives from other markets were present on the occasion.

Founding group chairman Khalid Iqbal Malik and former ICCI chairman Muhammad Ijaz Abbasi said the business community plays a key role in the development of the economy and urged CDA and MCI to address their issues as a matter of priority.

They said that due to the unavailability of parking lots in the markets, traders faced many difficulties and were asked to provide parking lots in all markets.

They said the CDA, in conjunction with the market associations, should eliminate encroachments on the markets and move the wheelbarrows from the I-10, I-11 and other markets to a separate location, as market activities are affected by the wheelbarrows.