Import duty on export of metal scrap hailed

Local cottage industry, while expressing satisfaction over imposition of import duty @ 25 percent on export of metal scrap, has hoped that local scrap would again be available for use by local small industry.
FPCCI Vive-President Sheikh Muhammad Aslam has hailed imposition of import duty @ 25 percent on export of metal scrap and said this decision would meet indigenous industrial needs.
He also said that medium industrialists were critical of increasing withholding tax, as it would cast adverse effects on middle class traders, who wish the increase to be taken back. An industrialist Muhammad Imtiaz said that local cottage industry using metal would be flourished if local scrap was not drained off.
Former adviser to chief minister, SA Hameed said that local industrialists showed particular resentment over bringing welfare trusts into tax net. Such trusts were exempted from the tax all over the world, he added.