Supreme Court suggests investing in stock market instead of banks

Justice Amin-ud-Din Khan, head of the Supreme Court’s constitutional bench, remarked that citizens should consider investing their money in the stock market instead of keeping it in banks.

The observation came during the hearing of a case pertaining to super tax, before a five-member constitutional bench headed by Justice Amin-ud-Din Khan.

During the proceedings, Advocate Mirza Mahmood Ahmed, representing a stock market company, presented his arguments and is expected to continue them in the next session.

Justice Amin-ud-Din Khan noted that in India, people have been investing in the stock market for years, and Pakistanis should also adopt this approach rather than relying solely on bank deposits.

Advocate Mirza Mahmood Ahmed argued that his client already pays general taxes, and that investments made through bank loans often result in losses after taxation.

He further stated that the Federal Board of Revenue (FBR) does not collect taxes directly from them but rather through the National Clearing Company, and therefore, they do not fall under the purview of super tax and should be treated in a separate category.

During the hearing, he also cited judgments from Indian courts concerning uniform tax policies to support his arguments.