KARACHI: Newly elected Hub Chamber of Commerce and Industry President Yakoob H Karim, ex-presidents Maqsood Ismail and Ismail Suttar, and the executive committee have demanded of the Balochistan government to withdraw the notice of Balochistan Revenue Authority for collection of infrastructure cess on all exports.
Addressing an urgent meeting of the Executive Committee, Yakoob Karim said that the industry in Balochistan is going through a difficult time. It lacks the basic utilities including energy, gas, and water to keep the manufacturing process moving.
Despite all the odds, the industrialists of the province and in particular, of Hub which hosts 99% of the industry of the province, are trying hard to keep running their units.
Maqsood Ismail stated that over 75% of the revenue of the entire province is generated by the Hub Industries. The industries are looking for solutions to the problems faced by them. Instead of any relief, imposing new levies and taxes every other day would leave no option for the industrialists to pack up their production activity from Hub for any trade-friendly location.
It may be noted that most of the industries are trans-provincial companies and they export the products on paying all the applicable taxes.
Ismail Suttar added that it is strange to note that the country desperately needs the increase exports and minimize reliance on imports, at the same time, such circulars for imposing new additional taxes are discouraging for not only existing industries, rather would be a negative message for any new investment in the province.
Exports cannot be taxed and they should be incentivized, if we are serious about the progress of the country and the prosperity of the people of Pakistan.
Copyright Business Recorder, 2024
Comments
Comments are closed.