The Businessmen Panel for FPCCI, on Wednesday demanded from the government to revisit the policy on abolishing the zero rated regime on export industries in the budget speech which may hit the country exports further and will start the uncompetitiveness of the Pakistani products internationally
LAHORE (Pakistan Point News / Online - 12th June, 2019) The Businessmen Panel for FPCCI, on Wednesday demanded from the government to revisit the policy on abolishing the zero rated regime on export industries in the budget speech which may hit the country exports further and will start the uncompetitiveness of the Pakistani products internationally.Chairman BMP, Mian Anjum Nisar said we support this move of the government on those companies who are non-exporters and was in retail business, opened brands in different cities of Pakistan; may collect the tax from them and they should not be exempted, but on the front of exporters specifically the zero rated facility may be continue as enhancement of country exports must be there which is imperative too for the country's economy.
Accordingly FBR may design a independence mechanism in this regard before approval of the budget from the National Assembly and Senate of Pakistan.He sought PM's intervention for resolving this burning issue at earliest possible to facilitate the perturbing exporters community belonging five rated export sectors.The discontinuation of zero-rated status will result in ruin and disaster of export-oriented industries adding that it will also generate large scale unemployment and huge foreign exchange losses.Anjum Nisar said business community was already confronting serious problems like high cost of electricity, gas and heavy taxes of Federal, provincial governments and many local taxes.
