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Call to reduce customs duties, taxes on industrial raw materials

Call to reduce customs duties, taxes on industrial raw materials

LAHORE: The duties and taxes on the import of industrial raw materials should be reduced to bring down the cost of doing business.

This was stated by Lahore Chamber of Commerce President Almas Hyder here.  A delegation of Federation of Pakistan Chambers of Commerce & Industry Tuesday visited the Lahore Chamber of Commerce & Industry and had a detailed discussion on the prevailing economic scenario.  The LCCI President Almas Hyder presided over the meeting while Senior Vice President Khawaja Shahzad Nasir, Vice President and Regional Chairman FPCCI Abdul Rauf Mukhtar, Vice President Sheree Arshad, Nazim Hussain Shah, Mian Zahid Javed, Ali Hassan Asghar, Waqar Ahmed Mian and others also spoke on the occasion.

Almas Hyder gave the delegation of FPCCI a detailed briefing on the measures initiated by the Lahore Chamber of Commerce and Industry for the economic revival.

Almas Hyder stated that duties and taxes on the import of industrial raw materials should be reduced to bring down the cost of doing business. He said that the constraints faced by non-filers of tax returns are hampering the overall business environment because such limitations have caused great trouble for two of Pakistan’s prominent money-making sectors.

According to the business community and other stakeholders, the automotive and realty sectors are the primary victims of this policy.

Vice President and Regional Chairman FPCCI Abdul Rauf Mukhtar, Vice President Sheree Arshad stressed the need for maximizing interaction between the FPCCI and its constituent trade bodies to get resolved the issues being faced by the trade and the industry.

They said that there was a dire need to jointly work for improving Pakistan’s perception that has been tarnished by the enemies of the country for their ulterior motives and to achieve this goal all the chambers of commerce and industry of the country and the trade bodies would have to work hand in hand.