Federal Government Concession Package to Retailer Traders

Islamabad: The federal government has decided to give a concession package to retailer traders. According to a statement issued by the Finance Ministry, the Prime Minister’s Adviser to the Finance Minister Hafiz Sheikh has set up a high-level committee to finalize the concession package for retailers, who are finance division, FBR, retailers association officials, and traders.

In this regard, Advisor Finance Dr. Abdul Hafiz Sheikh said that the retail sector accounts for 18% of the country’s GDP and that the sector provides 16% of the country’s workforce unemployed. The year is expected to be negative growth so retailers will be given tax exemptions keeping in view the difficulties of the sector.

Abdul Hafeez Shaikh said that retailers belonging to the FBR system will be given special discounts on taxes. The Committee should soon prepare a concession package for retailer merchants.