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Dar assures PCDMA of including proposals in budget

Federal Finance Minister Ishaq Dar has assured representatives of Pakistan Chemicals and Dyes Merchants Association (PCDMA) that their budget proposals will be considered and included in coming budget where possible. He gave this assurance during a meeting with representatives of trade bodies held at Federal Board of Revenue (FBR) House. He discussed trader bodies' budget proposals and informed that the government was contemplating to prepare three years trade policy 2014-17.

The PCDMA in a press release said that during the meeting the minister said that three years trade policy would be announced soon. Chairman PCDMA, Shaukat Riaz said that commercial and industrial importers of raw material must be treated equally in order to provide a level playing field.

Referring to PCT chapter 25 to 39, he suggested that duty on this chemicals which are not produced locally, be fixed at 5 percent and duty on the chemicals produced locally be fixed at 10 percent. He opposed access to FBR to bank accounts of bank customers and suggested that FBR should be given access to bank accounts of those account holders who do not possess NTN number.-PR

Copyright Business Recorder, 2014


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 30, 2015
Reserves $17.717 bln