The Lahore Chamber of Commerce and Industry (LCCI) on Tuesday took a strong exception to the government's imposition of 3.5 percent Withholding Tax (WHT) on agriculture produce. President LCCI, Shahzad Ali Malik while terming the decision detrimental to farming community interests urged the government to withdraw the SRO 1161(I) 2010 issued on December 31.
The president LCCI said that in the wake of highest-ever rate of inflation in the country, the government's decision would hit the farming community badly since most of the buying in the agriculture sector is made through Commission agent therefore the exemption available to the farmers would be meaningless.
Malik said that the LCCI wanted the withdrawal of the SRO 1161(I) 2010 because the imposition of 3.5 percent Withholding Tax (WHT) on agriculture produce is bound to jack-up the prices of items of daily use like flour, sugar, pulses and ghee. He said that the policy makers seem oblivious to the ground realities and always formulate anti-farmer policies while in the neighbouring countries, farmers were enjoying unlimited facilities and they were getting electricity absolutely free of cost. Malik urged the prime minister to take an immediate action and direct the Federal Board of Revenue to withdraw the SRO 1161(I) 2010 without any further delay.
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