SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has expressed grave concern over Federal Board Revenue’s proposed plan to increase the sales tax on five export oriented sectors from 2 to 5 percent.
SCCI President Fazal Jillani said that proposed levy of 5 percent sales tax on the exports of textile, surgical, carpet, sports and leather sector will have destructive effect on the export. This would add to the existing woes of the exporters and the export-oriented industries.
He added this 3 percent proposed increase would not be acceptable for the exporters as it will crush the exports.
Fazal Jillani said that these decisions should not be taken in the offices; Government should take business community on board. He further added that the export sector is further burdened with high power and gas tariffs, which have made it very hard and difficult for the Sialkot exporters to compete in the international markets. This increase of sales tax would further enhance the grievances of SMEs.
SCCI President Fazal Jillani said that on the one hand Government of Pakistan encourages the export industry to boost up the foreign exchange earnings but on the other hand department is planning such unpleasant steps which not only would affect the efficiency but also let down the morale of business community. Government should make business friendly policies, so that the business community can focus on the increase of exports which would ultimately result in the progress of the Country, he revealed.