Tuesday, 29 May 2012 10:19
KARACHI: The country's ailing cottage industry wants the government to introduce a budgetary plan of three-year tax holiday for small-scale manufacturers to offset the financial losses they have suffered because of the persistent violence in the city.
Talking to Business Recorder, President of All Pakistan Organisation of Small Traders and Cottage Industry, Mehmood Hamid, said the government should exempt the Karachi's small traders of taxes for the next three years so that the negative impact which had hit their businesses in years of violence could be scaled down.
"Target killings and violence claimed 400 lives in the last four months of the current fiscal year," he pointed out, saying that the government should declare Karachi a violence-hit city and give budgetary concessions to the businessmen community of the metropolis.
He said the terrorists, vandals and extortionists were choosing traders and their businesses, adding that so far 13 grenades were hurled at shops ...