The Lahore Chamber of Commerce and Industry (LCCI) on Friday demanded of the Federal Board of Revenue (FBR) to bring down duty on digital cameras at par with mobile phones that was zero percent. LCCI President Irfan Qaiser Sheikh was talking to Toru Iwaoka, General Manager, Nikon Corporation Japan and Adachi Yusuke of Nikon Middle East.
He said that a zero duty on digital cameras would be a great support to crawling imaging industry. He said the duty structure for digital cameras in India, Bangladesh, China, America and in Europe is zero therefore, "we strongly urge the FBR to bring down the duty structure to same level.
Irfan Qaiser Sheikh said the upcoming budget would be a meaningless document if the government failed to make downward revision in the duty structures on the recommendations of Chambers of Commerce and Industry in the country. He said that how the imaging industry could grow and prosper at the highest duty structure of 46 percent. He said with the downward revision of duty structure the import of digital cameras would also surge.
He said that zero duty on digital cameras would also discourage the menace of smuggling. He said that under the WTO convention, the digital cameras fall in the category of Information Technology therefore, there must not be any sort of duty on digital cameras.
General Manager NikonToru Iwaoka thanked the LCCI President for supporting the imaging industry and said if government lowered duty structure to zero percent, Nikon Corporation would consider more investment in Pakistan. He lauded the role of LCCI for the promotion of trade and industry in the country.
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