Multan Chamber 0f Commerce and Industry (MCCI) will launch a protest drive in collaboration with other chambers and joint future course of action will be decided against government for pressing withdrawal of value-added tax (VAT).
Addressing a press conference here along with Mian Mughis A Sheikh, MCCI President Shahid Naseem Khokhar said that government was flexing its muscles to impose VAT in the guise of RGST to follow the IMF conditionalities because IMF was blackmailing the government for payment of final tranche of loan.
He said that RGST would ruin the export oriented industry like textile and leather and liquidity would be main problem for the industry. He suggested for expansion of tax-net towards real estate and agriculture and saving Rs 400 billion by privatisation of state owned enterprises instead of imposing RGST to earn Rs 20 billion only.
Khokhar said that corruption must be eliminated in Federal Board of Revenue as only customs department of FBR was misappropriating the revenue of Rs 300 billion to 400 billion.
Commenting on the flood surcharge, Shahid Naseem Khokhar said that there was no consensus between provinces on this tax because it was levied on the tax payers only and it was not imposed on the rich as demanded by the foreign donors. He expressed hope that National Assembly and Senate would reject the RGST and flood tax otherwise we would have to wage struggle for the survival of local industry.
MCCI chief demanded for prohibition of new-gas connections for CNG station, commercial and domestic consumers because industry was shutting down due to non-availability of natural gas. He suggested for regular and smooth supply of gas to export-oriented industry, expedition of work on Iran-Turkmanistan LNG pipeline. He opposed further increase in power tariff, which is detrimental to industry. He said that our rulers should not withdraw subsidies on agricultural and other sectors on the dictation of IMF because United States, China and India were regularly giving subsidies to their farmers and SMEs.
He reiterated his demand for construction of Kalabagh dam so that cheapest electricity could be generated and water could be used for irrigation purpose. The mark-up rate must be kept in single digit like rest of the world. He feared that implementation of RGST would close almost all the ginning factories because their money would be blocked till the clearance of refund cases and ginners would be unable to purchase the raw cotton.
Comments
Comments are closed.