Cash withdrawal: government urged to enhance ceiling for levying withholding tax

Pakistan Industrial and Traders Associations Front (PIAF) has urged the government to enhance the ceiling for levying of withholding tax on withdrawal of cash through cheque from Rs 25,000 to Rs 200,000, and also ensure law and order in the country. This demand was raised at the executive committee meeting of the PIAF held with its chairman, Mubashar Sheikh in the chair.
Those who attended the meeting included Mian Shafqat Ali, Dr Arshad Majeed, Khalid Rafiq, Majid Abdullah, Irfan Qaiser and Mian Noman Kabir.
Executive Committee of the PIAF, while conveying the concern of the business community to the government, said that Rs 25,000 is a very small amount in business and imposition of tax on it was promoting the trend of payment through hundi.
It appealed to the Prime Minister of Pakistan and Chairman CBR to enhance limit of levying 0.1 percent withholding tax from existing Rs 25,000 to Rs 200,000.
Through another resolution, the Front expressed concern over deteriorating law and order situation in the country. It urged the Chief Minister Punjab and IG Punjab Police to devise some comprehensive planning to uproot the anti-social elements.
Piaf leader and Senior Vice-President Sohail Lashari briefed the members about his visit to Turkey and the UK and said that it would help enhance trade ties with these countries.