President of NKATI, has voiced strong concerns
over the Federal Board of Revenue’s
recent actions against industrialists
Business Reporter
Karachi: Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry (NKATI), has voiced strong concerns over the Federal Board of Revenue’s (FBR) recent actions against industrialists, calling them harsh, imprudent, and damaging to Pakistan’s economy. NKATI fully supports the Karachi Chamber of Commerce and Industry’s (KCCI) call for a unified response on July 19, 2025.
Khan condemned the freezing of bank accounts, issuance of excessive audit notices, and ongoing harassment of tax-compliant industrialists, warning that such moves could severely impact investment, exports, and employment. He noted that over 4,500 industrial units operate in North Karachi alone, generating billions in revenue and supporting hundreds of thousands of workers.
In the first 10 days of July, over 1,600 businesses reportedly received audit or recovery notices, many of them regular tax filers, sparking widespread unrest across the business community.
Khan appealed to the Prime Minister, Finance Minister, and FBR Chairman to urgently review the situation and engage in dialogue with industrial stakeholders. He also urged the Chief of Army Staff, General Asim Munir, to step in and safeguard economic stability and investor confidence.
