LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Mian Tariq Misbah said on Wednesday that the government is planning to add 27 more sectors into zero-rated regime in which pharmaceuticals, rice and engineering sectors are included.
The LCCI Chief disclosed this while speaking at meeting with a delegation of Katarband Road Industrial Association led by President Syed Mehmood Ghaznavi. LCCI Senior Vice President LCCI Nasir Hameed Khan, Vice President Tahir Manzoor Chaudhry, also spoke on the occasion.
He said businesses are in dire need of hand-handling by the government because the economic situation is fast changing with every passing moment due to COVID-19. “Loot at America, Europe or Middle East, the business scenario is not as good as it should be.” They are striving to come out of Corona influence but it seems that it would take a few more months, he added. We had several meetings with Governor Punjab, Chief Minister and Advisor to PM on Finance Hafeez Sheikh in which we called for fundamental changes in government’s approach towards businesses”, he said adding that more sectors should be included in zero rating.
Syed Mehmood Ghaznavi said that despite the fact that Katarband has its own independent industrial electricity feeder but still we are facing unannounced load-shedding. He said voltage problems are also hurting the production processes.
Speaking about the GMP (goods manufacturing practice) inspection, he said that we have received letters for conduction of GMP inspection. The provincial inspectors are not capable of conducting such inspection, he said.
This is the work of DRAP (Drug Regulatory Authority of Pakistan) and it should contribute in ease of doing businesses rather than creating hurdles for the business activities. He said the government has announced that the export oriented industry will be given subsidized electricity tariff, but no subsidy is being provided to the industry by the LESCO.
The association’s secretary general said that sales tax imposed on butter oil and related industry has almost shut the whole sector. Elaborating his point, he said the government asks to provide the sales tax receipts of the suppliers of fat items which is not possible because this is an unorganized sector. He said due to these implications, this sector is on the verge of closure and the people associated with this industry are selling their property and personal belongings for their livelihood.
Copyright Business Recorder, 2020
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