Latest news with #MuhammadSaleemMemon
Express Tribune
6 days ago
- Business
- Express Tribune
FBR may detain 'tax evaders' sans warrants
Data shared with lawmakers reveals that over the past three years, the number of registered business taxpayers has increased by 5.3 million . PHOTO: EXPRESS The business community condemned the federal government's decision to allow the Federal Bureau of Revenue (FBR) to arrest traders and industrialists on suspicion of tax evasion. Office bearers of the Hyderabad Chamber of Small Trade and Small Industry (HCSTSI), in their reaction to the federal and provincial budgets, categorically rejected the insertion of Section 37AA into the Sales Tax Act, on Sunday. They contended that the powers authorised to the FBR are unconstitutional and undemocratic besides being inimical to trade and industry. HCSTSI President, Muhammad Saleem Memon stated "granting FBR officers the power to arrest any trader without a warrant and to detain them for up to 14 days is a gross abuse of authority and a clear violation of human and economic rights." The chamber demanded the government withdraw from this decision, warning that if the authorities remained stubborn, the business community would resort to nationwide protests. With regard to the much delayed Sukkur-Hyderabad Motorway project, the chamber complained that a paltry sum of Rs15 billion was earmarked for FY 2025-26, for a project requiring around Rs400 billion. Memon argued "at this pace the project may take a decade or more to complete." The business community viewed the allocation as a reflection of the centre's disregard for vital road projects, which would benefit hundreds of millions of people travelling within Sindh, and towards Punjab.
Business Recorder
07-06-2025
- Business
- Business Recorder
HCSTSI suggests targeted relief steps to boost economy
HYDERABAD: The President of Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has formally submitted comprehensive budget proposals to the Federal Finance Minister ahead of the Federal Budget 2025–26, urging targeted relief measures for small traders, industrialists, and exporters to boost economic resilience and national growth. Memon emphasised that strengthening the business sector especially SMEs is vital to ensuring long-term economic stability. He stated that this is a critical opportunity for the government to stand firmly with the business community, especially amid ongoing tensions with neighbouring India, and send a strong message of national unity and economic strength to the global community. He stressed the urgent need to empower SMEs by maintaining tax exemptions on solar and wind energy, and by granting subsidies on electricity and gas tariffs. These measures, he explained, would help lower production costs and make Pakistani goods more competitive in international markets. To further support the sector, he called for easy access to low-interest loans, skill development He asked to allocate funds for the rehabilitation of SITE Area Hyderabad, especially road repairs, drainage, and water supply systems. He recommended a notable reduction in interest rates to encourage industrial growth and new ventures. On the export front, he proposed relaxing advance tax requirements, introducing export development schemes, and improving access to untapped global markets. He emphasised expansion of youth-focused vocational training and suggested tax incentives to foster innovation, research, and digital transformation to align Pakistan's industry with global standards. Memon also called for launching microfinance schemes and credit guarantee programs to promote financial inclusion. He strongly advocated for simplifying tax systems, licensing, and business registration to restore business confidence and foster government-business cooperation. A major highlight of his proposal was the demand to revise the mandatory POS registration threshold for small businesses. He recommended increasing the limit to PKR 350,000 monthly or PKR 70 million annually, protecting small traders from undue pressure. To broaden the tax net, he advised compulsory registration of distributors, dealers, and large retailers, along with identifying non-filers through property ownership, foreign travel, and luxury expenditures such as elite school fees. Copyright Business Recorder, 2025
Business Recorder
19-05-2025
- Business
- Business Recorder
HCSTSI President welcomes development decisions of HDA
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has welcomed the major development decisions taken during the recent 120th Governing Body meeting of the Hyderabad Development Authority (HDA), commending the leadership of Sindh Minister for Local Government, Saeed Ghani, HCSTSI President appreciated the swift approvals of development projects and financial allocations for Gulistan-e-Sarmast and other residential schemes, calling them a reflection of the Sindh Government's serious commitment to improving the urban infrastructure of Hyderabad. In a formal letter addressed to the Minister, the Chamber President Saleem Memon acknowledged the positive steps taken so far but emphasized the need for further practical and sustainable measures to ensure long-term benefits of these decisions. He strongly recommended that at least 70% of the revenue generated from Gulistan-e-Sarmast and other ongoing HDA schemes must be reinvested directly into their respective areas to promote self-sufficiency and continuous development. He highlighted the urgent necessity for establishing a dedicated grid station for Gulistan-e-Sarmast, in line with NEPRA policies, to ensure uninterrupted electricity supply. He also called for the immediate completion of the long-pending 36-inch water supply line, which has been delayed since 2009. Emphasis was laid on expediting internal road construction, drainage systems, and provision of water and electricity lines particularly in neglected sectors such as Kohsar Extension that have been deprived of basic amenities for decades. HCSTSI President further urged the launch of new schemes under the Annual Development Program (ADP) for water filtration and sewerage treatment plants in severely underserved areas, including Gulistan-e-Sarmast, Kohsar Zone, Bypass, and New Hyderabad City. He stressed need for complete revision of existing zoning strategies, proposing that each designated residential or commercial zone must be equipped with all basic utilities within a defined timeframe to prevent land misuse and speculation. He asserted this, would encourage legal occupancy and promote healthy commercial activity. Chamber President called on HDA to prioritize the completion of infrastructure work in pending schemes and to organize well-planned plot auctions thereafter. This would not only enhance the Authority's revenue but also help regain the lost market value of land. Expressing concern over the diminishing public trust in HDA due to years of neglect and unfulfilled commitments, he urged the Authority to take immediate and visible actions to restore public confidence through reliable service delivery. He also suggested outsourcing key development works to ensure quality and timely execution. Most significantly, HCSTSI President made a strong case for the inclusion of Hyderabad's business community especially representation from HCSTSI in the Governing Body meetings of HDA. He emphasized that direct participation would allow the ground realities, public grievances, and trade-related concerns to be effectively presented at the policy level, leading to more practical and people-centric urban planning. Concluding his remarks, he expressed hope that under the leadership of Saeed Ghani, the Local Government Department will continue to play a pivotal role in making Hyderabad's development more transparent, effective, and citizen-focused. He added that if the Chamber's recommendations are adopted in the next Governing Body meeting, Hyderabad will progress rapidly towards becoming a well-planned and modern city. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
HCSTSI President spells out ‘core' reason behind narrow tax base
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has said in a statement that the core reason behind Pakistan's narrow tax net and limited number of taxpayers is the lack of public and business community's trust in the government's utilization of tax revenues. He emphasized that unless people are assured of transparent and effective use of their paid taxes, there can be no significant improvement in voluntary tax compliance. He highlighted that despite billions of rupees being collected in taxes annually by various departments, the public and business sectors continue to suffer from a lack of basic civic amenities. Roads remain in poor condition, hospitals and schools are dilapidated, and municipal services are constantly declining. He pointed out that numerous reports, including those from the Auditor General of Pakistan, have consistently revealed massive financial irregularities and mismanagement in public funds, but no meaningful accountability has been ensured. HCSTSI President stressed that it is impossible to strengthen the tax system without restoring the confidence of the business community. Currently, traders feel that they are being forcefully taxed, yet their issues remain unresolved. He urged the federal and provincial governments to publish detailed annual expenditure reports alongside tax collection data, so that citizens can clearly see how and where their money is being spent. He said that if the government ensures the transparent use of public money, it would not only boost the confidence of current taxpayers but also motivate non-taxpayers to become part of the formal economy. He noted that Pakistan's tax-to-GDP ratio is lower than other regional countries such as Bangladesh and Sri Lanka, which reflects the public's deep mistrust in how tax revenues are managed. Drawing comparisons with developed nations, Memon stated that one of the key reasons behind their success is the public's trust in their tax systems. For instance, in Canada, each taxpayer receives an annual breakdown of where their taxes were spent. In Norway, citizens have access to detailed expenditures of any public project. South Korea's 'Taxpayer Bill of Rights' gives people full awareness and holds the government accountable. As a result, people in these countries willingly and confidently pay taxes. Copyright Business Recorder, 2025
Business Recorder
12-05-2025
- Business
- Business Recorder
HCSTSI pays tributes to Armed Forces
HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has paid rich tribute to the Pakistan Armed Forces, especially the courageous and highly professional pilots of the Pakistan Air Force, for their exceptional response during the recent escalation with India. Their swift and precise action not only safeguarded the nation but also earned global recognition for Pakistan's military excellence and aerial supremacy. He reiterated that war has never been Pakistan's first choice. As members of the business community, we have always advocated for peace, regional stability and mutually respectful relations with neighbouring countries, for it is only in such an environment that trade, growth, and prosperity can flourish. However, when aggression is imposed upon us, Pakistan reserves every right to respond decisively. Referring to the recent conflict, he noted that India used the April 22nd incident in Occupied Kashmir as a pretext to launch 'Operation Sandoor' on May 7th, targeting various regions within Pakistan. But by the grace of Almighty Allah and the iron-willed resolve of the Pakistan Armed Forces, Pakistan launched 'Operation Bunyan al-Marsis' in response neutralizing enemy Rafale jets, drones, and missile systems, and sending a clear message to the world: underestimating Pakistan is a grave miscalculation. HCSTSI President also extended his appreciation to Prime Minister Mian Shahbaz Sharif, Deputy Prime Minister Ishaq Dar, and the military leadership for their resolute and visionary strategy, which compelled India to seek a ceasefire through global intermediaries. The leadership's message was clear: Pakistan stands for peace, but with dignity and honour. He emphasized that the recent developments have highlighted the importance of not only a robust defense but also a stable economy and technological advancement for national resilience. 'This is the time for national renewal and commitment. Just as we stood united with our armed forces, we must now unite for the progress, self-reliance, and economic development of our beloved nation, setting aside all political and social differences,' he said. President paid heartfelt tribute to Dr. Abdul Qadeer Khan, the father of Pakistan's nuclear program, stating that the country's strategic capability under his leadership remains the strongest pillar of our national defense today. He further added that Pakistan's traders and industrialists have a vested interest in peace and stability, as these are essential for employment, investment, and national revenue. However, whenever the country faces threats, the business community stands firmly behind the Armed Forces like a frontline unit. Copyright Business Recorder, 2025
