LAHORE: The Lahore Chamber of Commerce and Industry on Wednesday urged the Federal Board of Revenue to bring considerably down the rate of taxes and duties on professional cameras to save the imaging industry.
The LCCI President Engineer Sohail Lashari was talking to a two-member Japanese business delegation comprising Mitsuhiro Tanaka and Shinobu Ikuta called on him at the Lahore Chamber of Commerce and Industry. LCCI former Executive Committee Nasir Saeed was also present in the meeting. The LCCI President said that the Lahore Chamber of Commerce and Industry believes that the government could get more revenues by lowering the rate of taxes on duties on various items and 45 percent taxes and duties on professional camera should be curtailed to 10 percent.
He said that he was unable to understand the logic of subjecting the cameras of high duty structure when mobile phones fitted with latest cameras are being imported on comparatively lower duty tariff.
Mitsuhiro Tanaka thanked the LCCI President for paving the way for the revival of imaging industry in Pakistan. He said that Japanese private sector was planning to increase their investment in Pakistan as the grant of GSP plus status to Pakistan by European Union had sent a good message to the foreign businessmen.
He said that Pakistan was a good business destination as its strategic location gives it an edge on a number of other regional players in many ways. He said that there was no second opinion about it that investment made in Pakistan finds its way to land-locked Central Asian States.