Supreme Court Judge Suggests Investing in Stock Market Instead of Banks

Supreme Court Justice Aminuddin Khan remarked that people should consider investing their money in the stock market rather than keeping it in banks. He made these remarks while leading a five-member constitutional bench hearing a case related to the super tax. Justice Khan noted that people in India have been investing in the stock market for many years, and Pakistanis should also channel their savings into the stock market instead of depositing them in banks. During the hearing, the taxpayer company’s lawyer, Mirza Mahmood Ahmed, argued that borrowing money from banks for investment results in losses after paying taxes. He said the Federal Board of Revenue (FBR) was not collecting taxes directly, as his client paid them through the National Clearing Company. He further contended that his client should not fall under the super tax category and should be placed in a separate tax block. The lawyer also cited Indian court rulings regarding uniform taxation. Mirza Mahmood Ahmed will continue his arguments on Thursday.