FAISALABAD, June 15: Trade leaders and industrialists have criticized the government’s step to delegate ‘sweeping powers’ to income tax commissioners through latest amendments. Speaking at a post-budget seminar held here at the Faisalabad Chamber of Commerce and Industry on Wednesday, the trade leaders said the step would make the self-assessment scheme ineffective.

FCCI Acting-President Tahir Mehmood Sheikh said no doubt the government presented a balanced and trade-friendly budget, but it could be further improved in the light of traders’ suggestions.

He said ‘absolute powers’ to tax commissioners would create problems for the business community.

Pakistan Yarn Merchants Association Chairman Munawar A. Sheikh said the government should start a series of seminars and meetings with the business community to resolve ambiguities about the amended rules of income and sales tax.

All Pakistan Anjuman Tajiran Secretary-General Haji Bashir Ahmed in his address highlighted the problems being faced by small traders and shopkeepers. He demanded a relief package for shopkeepers.

Tax consultants, professionals and office-bearers of different trade organizations criticized the government for imposing 0.1 per cent withholding tax on more than Rs25,000 cash withdrawal from banks.