Tajir Dost Scheme 2024 Trader Registration & Economic Impact
In a written answer, the finance ministry said the registration of the traders under the scheme is underway and so far 76,259 traders have been enrolled.
29,735 in Lahore, 11,585 in Rawalpindi, 8,138 in Karachi and 6,563 traders from Islamabad have registered themselves under the Tajir Dost scheme.
It should be noted here that the Tajir Dost Scheme, launched in March 2024, is a voluntary tax collection initiative aimed at integrating unregistered businesses into the existing tax system of Pakistan, as mandated by the International Monetary Fund (IMF).
The scheme is expected to generate Rs 400 to 500 billion in national exchequer annually.
The FBR has urged all unregistered wholesalers, retailers, dealers, and shopkeepers to register under the scheme.
Tajir Dost Scheme: How important this scheme is for traders?
Meanwhile, the Businessman community in the country has voiced discontent, stating that the scheme’s introduction was “completely inappropriate” and deviates from established procedures.
Economist Dr. Khaqan Najeeb shared his insights during an interview program, stating that a similar initiative was proposed during the tenure of former Prime Minister Shaukat Aziz but was met with strong opposition from traders, leading to widespread strikes nationwide.
He added that the currently ruling government is attempting a similar approach, which has raised eyebrows among the business community.
The economist during the interview pointed out the disparity in Pakistan’s tax system, revealing that out of the 3,200,000 to 3,500,000 businessmen only 300,000 are registered in FBR, and only 150,000 are regular income taxpayers.
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