Future stock market investments will require approval from the Federal Board of Revenue (FBR), and non-filers will not be allowed to participate, the FBR declared.
During a briefing to the Senate Standing Committee on Finance, which is chaired by Senator Saleem Mandviwalla, FBR Chairman Rashid Langrial made this statement.
During the discussion, Senator Shibli Faraz voiced concerns about anomalies in the media industry, claiming that media companies withhold taxes from workers’ paychecks but fail to submit them to the FBR.
Concerns about the current tariff adjustments were also raised by steel sector representatives, who cautioned that the action would result in the closure of industrial facilities.
