The Federal Board of Revenue has imposed complex restrictions on people, which has discouraged them to trade, said Dr Salman Shah, the adviser to the Punjab chief minister on economic affairs.
“Our people are simple, so the system should be ordinary,” he said in an interview with SAMAA TV on Wednesday.
Shoppers will have to provide their CNIC copy for purchases exceeding Rs50,000 from according to a recent announcement by the FBR. The condition was introduced for business-to-business transactions to avoid fake transactions.
Shah said the restriction has disappointed people, especially businessmen who deal in transactions of millions. “A small thing is obstructing the transactions, which is making people frustrated,” he added.
“The FBR should prove that the restriction has increased the number of taxes,” he remarked. He said the CNIC condition will hurt the economy.
When asked why Punjab Bank has refused to give loans to Naya Pakistan Housing Project, the minister replied, “Punjab Bank is not mine, it is a commercial bank and we can’t force them.” We can’t order them as their board of members decides these things.
“The bank doesn’t have a lack of trust in the government, but on the system,” he added.