COAS General Asim Munir highlights role of SIFC in meeting with traders

LAHORE: Chief of the Army Staff (COAS) General Asim Munir has assured the business community that money exchanges would be brought under the purview of taxation, said President Lahore Chambers of Commerce and Industries Kashif Anwar.

A delegation of Lahore Chambers of Commerce and Industries headed by its President Kashif Anwar called on COAS General Asim Munir to discuss the country’s economic situation.

Detailing the matters discussed in the meeting, Anwar said the COAS assured transparency in dollar exchange and interbank rates.

During the meeting, General Asim Munir highlighted the pivotal role of Special Investment Facilitation Council (SIFC), emphasising its potential to attract substantial investments of up to $100 billion from countries such as Saudi Arabia, the UAE, Kuwait, and others.

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Kashif Anwar, in alignment with the broader business community, recommended active engagement with all chambers to incorporate diverse perspectives into the task force’s agenda.

Addressing critical issues faced by the public, Kashif Anwar proposed a reduction in income and sales tax rates on electricity bills. He noted that the populace grapples with the burden of high taxation on electricity, impacting daily lives, businesses and common people.

Anwar further said COAS General Asim is optimistic that Pakistan will come out of the present financial crisis as the country has the potential to bounce back.