The Lahore Chamber of Commerce and Industry has appealed to the business community to avail additional time for Assets Declaration Scheme
Lahore (Pakistan Point News / Online - 01st July, 2019) The Lahore Chamber of Commerce and Industry has appealed to the business community to avail additional time for Assets Declaration Scheme.While talking to a group of businessmen belonging to various sectors of trade and industry ,the LCCI President Almas Hyder said that extension was demanded by the Lahore Chamber of Commerce & Industry to facilitate the businessmen who were unable to avail it due to paucity of time.
LCCI chief urged the government to restore zero-rating facility for the exporting sector besides relax the mandatory condition for ID card of the buyer for at least one year.They said that mandatory condition of ID Card of buyer has slowed down business activities in the markets as buyers are reluctant to make purchases from the registered persons.He said that government has withdrawn SRO 1125 under which five export oriented sectors are exempted from sales tax and its withdrawal will add burden to the government exchequer beside hitting the national exports badly.He said that exporters are working in difficult circumstances but making their all out efforts to bring much-needed foreign exchange in the country. Withdrawal of zero-rating facility will squeeze the working capital of the industry and dry out liquidity from the market.
