Justice Aminuddin says investing in stocks, rather than keeping money in banks, benefits national economy
In a notable comment that could change how Pakistan views its financial future, Justice Aminuddin Khan, head of the Supreme Court’s constitutional bench, has urged citizens to shift 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 uniform taxation principle, which he believes could benefit Pakistan as well. His suggestion, which aligns with global investment trends, is aimed at benefiting the national economy.
During a hearing on petitions related to the super tax on Wednesday, he drew attention to India’s approach to investing in stocks, highlighting how the Indian public has embraced the stock market for years.
He stressed that Pakistanis should follow suit. “Investing in stocks, instead of keeping money in banks, would directly benefit our economy,” he said, emphasising the crucial role of investment in national economic growth. This call for action comes as part of broader discussions around taxation policy.
The court is currently hearing several petitions from companies challenging the super tax, an additional levy on high-earning individuals and industries introduced in Pakistan’s 2022-23 federal budget. The law was primarily aimed at big corporations in sectors like cement, steel, sugar, and textiles, among others, to generate revenue for economic stabilization.
