Business community in Khyber Pakhtunkhwa warned to launch protest, if the federal government didn't withdraw the newly-imposed regulatory duty on the imported items forthwith. Speaking at a news conference at the chamber house here on Thursday, Sarhad Chamber of Commerce and Industry (SCCI) President Zahidullah Shinwari said the newly-imposed regulatory duty on imported items will not only cause price hike of the consumers good but also promote under-invoicing and smuggling into the country that will ultimately result in reduction of government revenue.
SCCI chief expressed annoyed that the federal government didn't take the chamber and business community on board before taking such decision, which will not only bring price hike, but would promote smuggling of such items. He asked for withdrawal of the decision in best interest of the economy. Shinwari said that the policy could not lower the current trade deficit, but it would further affect the existing export volume with other regional countries, particularly Afghanistan.
Flanked by the chamber Senior Vice President, Mohammad Naeem Butt, Vice President Malik Niaz Mohammad, and executive committee members, he said the federal government should take measures for giving maximum relief to poor masses and business community, instead of imposing new taxes.
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