PFIA urges government to rationalize import and customs duties

Pakistan FMCG Importers Association (PFIA) has urged the government to rationalize the import and customs duties in the forthcoming budget in such a manner that could discourage smuggling and encourage legal importers. In its budget proposals 2018-19, the Association urged the government and the high ups of the Federal Board of Revenue (FBR) to bring down the duties so it could eliminate smuggling which is causing irreparable damage to the economy. The Association also urged the government to completely withdraw the Regulatory Duty levied on number of items in the recent past. The Association claimed that the Regulatory Duty had given nothing to the government rather contributed in increased smuggling, under-invoicing and other such wrong practices.
Association also urged the government to abolish the withholding tax levied on banking transactions and tax reforms should be introduced in such a manner that these should benefit both salaried class and traders alike. PFIA also urged the government to allocate money in the coming budget to fulfill its commitment of provision of electricity to the consumers on subsidized rates.