PCDMA chief seeks relief package for commercial importers

Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA) Amin Yousuf Balgamwala has sought "Relief Package" to save commercial importers from bankruptcy and urged the government to reinstate fixed tax regime and SRO 1190 for commercial importers.

He also demanded to abolish CNIC condition on sale of goods to unregistered persons.

In an appeal to Prime Minister Imran Khan, Amin Yousuf Balgamwala pointed out that due to ongoing severe economic crisis, the business of commercial importers has been destroyed and they are facing serious financial losses but the government is focusing only on providing relief to the exporters, while exporters' contribution to GDP is only 6% while more than 90% is from other sectors.

Therefore, the government should provide relief to the import sector and local businesses immediately.

"To eliminate the discrimination between commercial importers of raw materials and industries and reduce the WHT from 4.5% to 2% on all supplies for manufacturers and traders, the government should provide level playing field to commercial importers of raw material & industries," Amin Yousuf Balgamwala said.

Balgamwala urged SBP to reduce the key interest rate to single digit level for reviving business activities, as the trade & industries are shut down due to COVID-19 pandemic.