Justice Aminuddin says investing in stocks, rather than keeping money in banks, benefits national economy
In a notable comment that could change the way Pakistan views its financial future, Justice Aminuddin Khan, Chief Justice of the Supreme Court, urged citizens to withdraw their savings from banks and start investing in the stock market.
Justice Aminuddin’s remarks were made while citing Indian court judgments that endorse a principle of uniform taxation, which he said could also benefit Pakistan. His suggestion, which aligns with global investment trends, aims to benefit the national economy.
On Wednesday, during a hearing on super tax-related petitions, he drew attention to India’s approach to stock investing, highlighting how the Indian public has embraced the stock market for years.
He stressed that the Pakistanis should follow suit. “Investing in stocks, instead of keeping money in banks, would directly benefit our economy,” he said, highlighting the crucial role of investment in national economic growth. This call to action is part of broader discussions on tax policy.
The court is currently hearing several petitions from companies challenging the super tax, an additional levy on high-income individuals and industries introduced in Pakistan’s 2022-23 federal budget. The law mainly targeted large companies in sectors such as cement, steel, sugar and textiles, among others, to generate revenue for economic stabilization.
