'Imposition of RGST to cast negative impacts on economy'

Advisor to Chief Minister Sindh on Investment, Zubair Motiwala has warned the government that imposing Reformed General Sales Tax (RGST) in isolation and without consulting stakeholders will have serious negative impact on economic
Speaking at a meeting of Pakistan Chemicals and Dyes Merchant Association (PCDMA), he said county already facing enormous problems including political instability, worsening law and order situation, powerand gas crises, increasing utility charges and added that imposing RGST in these condition will further escalate prevailing condition.
He expressed fear that RGST will pave way for increasing smuggling and legal imports will become more costly. Motiwala said that after 1973-74 country once again facing serious economic crises. He emphasised the need of unity among various factions of business community for joint struggle to bailout country from economic catastrophe.
He termed the imposition of RGST as biggest hurdle in the way of smooth operating of business and industrial activities. Leader of business community and former president KCCI, Siraj Kasim Teli assured that the chamber will play its role to get business community problems resolved.
He advised President KCCI, Saeed Shafiq to start consultative process with business community on RGST and other issues and hold meetings with respective government authorities to get the issues resolved. Referring to Bolton Market incident, he said that the chamber has played its role and succeeded in arranging Rs 1.4 billion from the government for payment of compensation to affected 1751 businessmen.