KARACHI: Federation of Pakistan Chambers of Commerce & Industry FPCCI has demanded immediate withdrawal of 15 percent flood surcharge and 2 percent increase in electricity tariff.
Talking to newsmen on Wednesday, Vice Presidents FPCCI Khalid Tawab, Dawood Usman Jhakora and Muhammad Usman Sheikh said burden of taxes over trade and industries by government agencies will affect national economy. They called for measures to control smuggling of Afghan Transit Trade (ATT) goods in the country which is a great loss to national exchequer. Government should ban import of luxury items and reduce lavish expenditure to provide relief to the people and industries.
Khalid Tawab said government should provide relief to existing industries, keeping in view present electricity, gas crises, law and order situation. 15 percent flood surcharge and 2 percent increase in electricity prices created more problems. Industries are being closed due to energy crises. Inflation rate is also being increased due to new currency notes without approval of the parliament and government seeking financial aid and loans from IMF & World Bank. He urged government to provide relief to industries and people.
Dawood Jhakora said industrial growth is effected due to last year's devastating floods. Stringent monetary policy and interest rates also affect foreign investment. Flood surcharge and increase in power tariff will raise cost of industrial production. He urged government to reduce interest rate and provide relief to local industries to overcome inflation.
He said business community is expressing concern on 17 percent tax imposed on tractors, machinery, medicines.
Comments
Comments are closed.