After learning a valuable lesson following the Parliamentary Debate on the Accountability Bill, which has been categorically pigeonholed after three years of futile debate, the government decided to avoid stalling tactics such as taking a bill to the Parliament floor and passing it via presidential promulgation instead. The most recent of which is the suspension of article 111 of the Income Tax Ordinance which allows officials to tax income, assets and investment of a person whose nature and source are unexplained. This translates into a motion whereby the Federal Board of Revenue will not ask investors about the source of capital they trade with on the Stock Market for 120 days, making it possible for Pakistan’s 34 billion dollar black market to whiten itself overnight. Thus no question raised, investors will be allowed to trade with all they have for motives thus detailed.
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