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Print industry asks govt to cut taxes to boost economy

Print industry asks govt to cut taxes to boost economy

KARACHI: Well-placed policies and a reasonable tax regime are critical for the print industry to become more prosperous, valuable, and economically viable, speakers at the soft launch of PrintPak-2017 Exhibition said.

“In order to be at par with India, Pakistan needs to increase its per capita consumption of paper by 50 percent and for this a paper-industry-friendly policy is a must” Minhaj-ud-Din, former chairman Pakistan Association of Printing and Graphics Arts Industry (PAPGAI), told the audience while highlighting taxation related problems facing the printing industry.

“There is 51 percent duty on basic raw material. It’s hurting the paper industry real bad because this is the highest in the world. Also, there was no ray of hope in the budget 2017-18.”

Minhaj questions as to why the government cannot reduce sales tax for printing industry just like it did for the textile sector.  “About two million people in Pakistan were in printing and graphic arts industry, which is the second largest source of employment after the textile industry in Pakistan,” he claimed.

Shamim Ahmed Firpo, President Karachi Chamber of Commerce and Industry, said the exhibition would be a great opportunity for all the stakeholders to connect with old customers and meet new ones. “Workshops and seminars by renowned institutes on printing will also be held during the expo,” he added.  The ceremony was attended by the leaders from all major trade bodies of the country including FPCCI, All Pakistan Paper Merchants, Korangi Association of Trade & Industry, etc. The exhibition will be held at Karachi Expo Center from November 18-20.