Syed Zia Alamdar Hussain Vice Chairman, PHMA North Zone has expressed grave concerns over the prevailing state of economy affairs and observed that it seems the government policies and acts have made it difficult for industrialists to continue their business and they have been forced to shift their capital to the other countries.
Addressing an emergent meeting of Pakistan Hosiery Manufacturers & Exporters Association (PHMA) North Zone, he said that government should not punish them for creating jobs and earning precious foreign exchange for the country. He lamented that some black sheep present within the folds of FBR has issued unviable and unpractical SRO's which could not bring positive improvement in the recoveries but kill the honest business community in addition to sidelining the honest tax collectors.
He said that these SRO's were issued in unnecessary horst without any consultation and taking them into confidence. The members also expressed concerns over the prevailing state of affairs and said that it seems the government policies and acts have made it different for industrialists to continue their business and they have been forced to shift their capital to the other countries.
He said that government should not punish them for creating jobs and earning precious foreign exchange for the country. They said that government should reconsider and review its economic policies to make them industrial and business friendly, so that country could avoid economic disaster. The members demanded that the disputed SRO to withdraw the facility of 2 per cent sales tax on zero rated textile sector should be withdrawn with immediate effect. They also urged government to resolve the energy crisis and ensure uninterrupted electricity and gas supply particularly to the value added textile sector.