Karachi – Malik Khuda Bakhsh, Chairman of the Malik Group, Convener of the FPCCI Energy Committee, and President of the Pakistan Business Forum (Karachi Chapter), has urged the government to introduce a fixed tax regime for traders in the upcoming budget, stating that the trader-friendly scheme has not yielded the desired results. He emphasized that, to increase national revenues, it is necessary to bring new taxpayers into the net. While speaking at an Iftar dinner hosted by him for members of the Council of Economic and Energy Journalists (CEJ) at Karachi Gymkhana, Malik Khuda Bakhsh stated that Pakistan’s economy is now moving toward stability, and foreign investors have once again turned their attention to Pakistan. He highlighted that, through their efforts, a Chinese company has moved forward with a $340 million investment in manufacturing and charging plants in Pakistan. With the cooperation of the Chinese company ADN Group, charging stations have been established in Karachi and Lahore, and a total of 3,000 charging stations will be installed across Pakistan.

Malik Khuda Bakhsh further stated that the government should provide more opportunities for new investments because international investors are ready to invest in Pakistan but lack the necessary facilities. He added that instead of putting pressure on old taxpayers, the revenue targets could easily be achieved by bringing new taxpayers into the tax net. The Pakistan Business Forum has recommended a monthly tax of 20,000 rupees for large shopkeepers and 10,000 rupees for small shopkeepers. They have also demanded a fixed tax of 5,000 rupees for shopkeepers in villages and small towns. He suggested that to meet the targets, the collection of fixed taxes could be done through electricity bills, and once the fixed tax is paid, traders should not be questioned further. To boost the economy, he stressed the implementation of a fixed tax regime without pressure.

In response to a question, Malik Khuda Bakhsh said that their efforts are focused on getting a Chinese company to establish a plant in Karachi, and work is underway on manufacturing and charging plants. He announced that 30 charging plants from China will soon arrive in Pakistan, which will be installed across the country. He also expressed hope that by the end of this year, the required number of electric charging plants will be set up nationwide.