AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

In a Joint Statement Mian Muhammed Ahmed Patron In-chief & Founder President, Senior Vice President Iftikhar Ahmed; Vice President of BQATI Haider Amin and member BQATI Mian Zulfiqar Ahmed on Thursdayraised concern over the Government of Sindh move fixing a levy over the usage of underground water; by the move will further hike the cost of industry which is already uncompetitive in the international market.
They said the government on one side has announced an economic relief package for industries but on the other hand, it is planning to raise the cost of doing business.
Mian Muhammed Ahmed, Patron In-chief BQATI said the Government of Sindh fixing an amount of Re 1:00 per liter on extracted (underground) sub soil water for industrial commercial/manufacturing purposes/uses; an interim levy to be collected by agency till further policy/legislation by the Government of Sindh.
Iftikhar Ahmed Senior Vice President BQATI was of the view that Industries are presently not only paying the water bills but also bearing the additional cost of its treatment by installing treatment plants. Moreover, the industry also urged the Government of Sindh to review its decision of fixing water charges for industrial / manufacturing sector.
Further he elaborated that the sub soil water is not usable and industry is forced to extract water due to governments limitation to provide required water volume, further the industry incurs additional expenses on process to make sub soil water useful for industrial use including very expensive electricity cost and manning cost and maintenance cost of the system.
With above in view, any additional charge on industry in general, which are not in "water related consumer products business " is not supporting the industries, already under huge cost pressures.
Mian Zulfiqar Ahmed added that the imposition of levy resulted in high cost of doing business for the indigenous industries thus rendering them uncompetitive both in local and global markets and now they are on the verge of collapse.
In view of the above, Mian Muhammed Ahmed Patron In-chief BQATI urged the government to immediately withdraw the levy on extracted water and to provide relief to the all sectors of trade and industries.-PR

Copyright Business Recorder, 2019

Comments

Comments are closed.