President Islamabad Chamber of Commerce and Industry (ICCI) Nasir Khan appreciated Prime Minister Shaukat Aziz for removing special excise duty from fertilisers, petroleum products, ghee, import of edible oil, local oil marketing products, carpets, sports goods, surgical equipments, textile, energy sector, imported raw materials for leather industries.
President ICCI demanded that special excise duty on the steel products may also be withdrawn because as per agreement of steel association. The revenue generation will be increased from one billion to 16 billion this year. The revenue generation will be enhanced 800%. The response of the for imposing 1% excise duty will put negative impact and the price of the steel will ago up, which may hurdle in the construction progress.
Nasir Khan stated that removal of special excise duty will facilitate the people and would be helpful in controlling hike in prices of these products. He expressed satisfaction on the rise of foreign exchange reserves, which are touching 16 billion dollars mark. He said still prices of certain commodities are high, which need to be brought down to reduce dearness in the market.
President ICCI stressed that government should take more measures for providing relief to the business community for growth of business and to general public, so that they could pass their lives with ease.
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