Trade bodies reject new SROs

All trade bodies including Sialkot Chamber of Commerce and Industry (SCCI) have unanimously rejected the new SROs 230, 231 and demanded its immediate withdrawal. Addressing a press conference at Sialkot Chamber of Commerce and Industry (SCCI) on Thursday night, President SCCI, Ghulam Mustafa Choudary said that the industrial sector is already confronting serious crises and has become stagnant due to electricity load shedding and non-availability of Sui gas.
Resultantly, the wheel of industrial development has become jammed. He further said that the exports are affected due to a continuous increase in utility bills, high prices of raw material and tough competition in the international markets, as a result of which the exporters' community is facing financial constrains.
Ghulam Mustafa said that under the prevailing situation, there is no justification of withdrawal of zero rating, and imposition of 15 percent surcharge on income tax payable during the financial year 2010-11. He termed withdrawal of zero-rating on five export-sectors destruction of the industrial sector.
Speaking on the occasion, Chairman Pakistan Readymade Garments Manufacturers and Exporters Association, Ijaz A. Khokhar said that the businessmen are considering closing down their industrial units under current situation in the country. The production cost, he said is sharply increasing but the government is not realising the gravity of this deteriorated state of affairs.
If the situation remains the same, there would be a 'tsunami of unemployment' which would be uncontrollable and will generate street crimes and create serious law and order, he feared. Khokhar called upon the government to concentrate on increasing volume of export for overcoming the multifarious social and economic problems being faced by the country.
Increase in exports would not only pave the way for industrialisation but also generate wide employment opportunities for the industrial workforce, he maintained. Chairmen of surgical, sports goods association, Pakistan Gloves Association, Pakistan Hosiery Association and leather garments body also demanded immediate withdrawal of the SROs for ensuring smooth industrial productivity in the country.