AGL 38.80 Decreased By ▼ -0.78 (-1.97%)
AIRLINK 129.35 Decreased By ▼ -1.87 (-1.43%)
BOP 6.96 Increased By ▲ 0.15 (2.2%)
CNERGY 4.61 Decreased By ▼ -0.10 (-2.12%)
DCL 8.40 Decreased By ▼ -0.04 (-0.47%)
DFML 40.88 Decreased By ▼ -0.59 (-1.42%)
DGKC 80.45 Decreased By ▼ -1.64 (-2%)
FCCL 32.40 Decreased By ▼ -0.70 (-2.11%)
FFBL 71.41 Decreased By ▼ -1.46 (-2%)
FFL 12.21 Decreased By ▼ -0.05 (-0.41%)
HUBC 108.90 Decreased By ▼ -1.84 (-1.66%)
HUMNL 13.90 Decreased By ▼ -0.61 (-4.2%)
KEL 4.99 Decreased By ▼ -0.20 (-3.85%)
KOSM 7.60 Decreased By ▼ -0.01 (-0.13%)
MLCF 38.00 Decreased By ▼ -0.90 (-2.31%)
NBP 68.20 Increased By ▲ 4.19 (6.55%)
OGDC 189.10 Decreased By ▼ -3.72 (-1.93%)
PAEL 25.07 Decreased By ▼ -0.61 (-2.38%)
PIBTL 7.37 Increased By ▲ 0.03 (0.41%)
PPL 149.05 Decreased By ▼ -5.02 (-3.26%)
PRL 25.20 Decreased By ▼ -0.63 (-2.44%)
PTC 17.23 Decreased By ▼ -0.58 (-3.26%)
SEARL 80.60 Decreased By ▼ -1.70 (-2.07%)
TELE 7.53 Decreased By ▼ -0.23 (-2.96%)
TOMCL 32.85 Decreased By ▼ -0.61 (-1.82%)
TPLP 8.29 Decreased By ▼ -0.20 (-2.36%)
TREET 16.83 Increased By ▲ 0.21 (1.26%)
TRG 57.15 Decreased By ▼ -0.25 (-0.44%)
UNITY 27.71 Increased By ▲ 0.20 (0.73%)
WTL 1.33 Decreased By ▼ -0.04 (-2.92%)
BR100 10,495 Decreased By -9.1 (-0.09%)
BR30 30,830 Decreased By -396.8 (-1.27%)
KSE100 97,886 Decreased By -193.4 (-0.2%)
KSE30 30,513 Decreased By -45.6 (-0.15%)

Raza Nasarullah Ghumman, Convener District Assembly and Naib Nazim Faisalabad has assured powerloom owners that the trade tax levy on powerlooms would be reviewed to solve the problems faced by the sector.
Talking to a delegation of All Pakistan Cotton Powerlooms Association (APCPA), he said that Powerloom Industry was the main source of the livelihood of thousands peoples which had been playing a vital role in strengthening the national economy.
Rana Ikhlaq Ahmad, Chairman, All Pakistan Cotton Powerlooms Association, who was leading the delegation, told to Zali Naib Nazim that the increasing burden of taxes over Powerloom sector was creating new crisis and pushing the big cottage industry towards the verge of total destruction.
He mentioned that the according to schedule of District Government Faisalabad, the Trade Tax levied on Powerloom sector has been increase up to many folds, which is yielding negative impact over the investment at small scale stage.
Rana Ikhlaq Ahmad, Chairman APCPA said that during the course of hearing the objections filed by the Powerlooms Associations, it had been observed that the Trade Tax which should have been only up to Rs 40 per loom, while after going throw the schedule the fact had come forth that the same had already been increased by five folds, which was absolutely injustice and unwarranted.
He further said that it was clear violation of the commitment made with the concerned staff assigned the task of hearing the objections.
He strongly demanded that the increased Trade Tax should be withdrawn immediately in the best interest of the small scale investors of the city.

Copyright Business Recorder, 2004

Comments

Comments are closed.