Lahore Chamber assured of reviewing RD issue

LAHORE: Prime Minister's Special Assistant on Revenue Haroon Akhter Khan has assured Lahore Chamber of Commerce and Industry (LCCI) delegation of reviewing the issue of Regulatory Duty (RD) on imports.

LCCI President Malik Tahir Javed led the six-member delegation which called on Haroon Akhter, according to LCCI spokesman here Monday. Senior Vice President Khawaja Khawar Rasheed, Vice President Zeshan Khalil former Presidents Sheikh Muhammad Asif and Mian Anjum Nisar also spoke on the occasion, he added.

Haroon Akhter said that issue of Regulatory Duty on imports would be reviewed in the larger interest of business community as government considered business community its partner and wanted to ensure business-friendly atmosphere.

He added that business community was backbone of the economy and government was striving hard to solve the issues of trade and industry at the earliest.

He informed the LCCI delegation that government was making all-out efforts for the cause of business community in the country.

He also lauded the LCCI role for supplementing the government efforts aimed at economic revival of the country, saying that government took LCCI proposals.

While, LCCI President Malik Tahir Javed lauded the Haroon Akhter's gesture to review the Regulatory Duty on imports and appreciated his friendly approach towards the business community.

He said that decision of Regulatory Duty imposition must be reviewed immediately as it would not only be hurting the trade and industry but also encourage smuggling and under invoicing.

Malik Tahir Javed informed Haroon Akhtar that principally, Regulatory Duty was imposed on such products where local industry needed protection, and Lahore Chamber believed in protection of local industry as it provided employment opportunities and contribute sizeable amount of revenue to national exchequer.