Reduced business hours to affect tax, revenue collection

RAWALPINDI (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) has asked the government to review its decision to reduce business hours. RCCI President Saqib Rafiq, in a statement, said that stakeholders should be consulted before making the announcement and added that the early closure of businesses, especially hotels, restaurants, or food service, will add more suffering to the masses.
He added that the government would lose billions of rupees in sales tax due to reduced business hours.
Saqib appreciated the government’s efforts to resolve energy crises, but the government’s revenue from electricity bills may decrease due to a reduction in power consumption during peak hours. He demanded that the government focus on finding an amicable solution to this problem by holding talks with all the stakeholders and avoiding imposing unilateral decisions.
The business community was aware of the current economic situation; however, he remarked that it was necessary to formulate policies in consultation with stakeholders.
The RCCI president suggested that working hours should be fixed by consensus, applicable to all types of markets and shopping malls in the federal capital and all provinces.