PESHAWAR: Trader bodies have objected to the encashment of pay orders belonging to industries in the former FATA and PATA regions, fearing that the move could affect industrial activity.
According to a press release, the concerns were voiced by Khyber Pakhtunkhwa Traders Association President Malik Mehr Elahi and Peshawar Chamber of Small Traders and Small Industries President Shakeel Ahmad Khan Saraf, along with Senior Vice President Tila Muhammad, Vice President Malik Zohaib Arif, executive members and spokesperson Shahzad Ahmad Siddiqui.
They pointed out that tax-related disputes involving these industries were currently sub judice, yet the pay orders were encashed despite the pending court cases.The traders’ leaders said that encashing the pay orders despite the sub judice status of the matter was legally questionable and could adversely affect industrial operations in the region.
They stressed that the regions formerly known as FATA and PATA had a distinct constitutional and legal status, and warned that such actions could undermine investor confidence and place additional financial pressure on industrial units and their workforce.
The traders’ leaders questioned the role of a private bank in carrying out the encashment on the instructions of tax authorities, stating that financial institutions were expected to exercise due caution in cases involving ongoing judicial proceedings. They urged the Federal Board of Revenue to review the decision and resolve the issue in accordance with the law to prevent disruption to industrial activity.
