Gas crisis, huge taxes termed a threat to exports

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to take effective measures to overcome the gas crisis and ensure uninterrupted supply to industries, as well as reduce electricity tariffs, a statement said.

If the government does not address the problems of electricity and gas, the trade and industry will suffer severely and exports will be affected, while revenue will also decline.

Addressing a meeting during the visit of a delegation led by Saqib Naseem, central chairman of the Pakistan Yarn Merchants Association (PYMA) to the FPCCI, its president Mian Nasser Hyatt Maggo said that the power shortage and gas crisis across the country has badly affected the people, including industries. The government must take these crises seriously.

He asked the PYMA members about the issues being faced by them regarding the duties and taxes imposed in the federal budget.

Maggo assured the delegation of playing a due role in resolving their problems and sought suggestions from PYMA for the forthcoming budget so that every effort could be made to make it the part of the budget.

Saqib Naseem expressed satisfaction over the FPCCI’s proposal to set up a committee and accept the invitation to visit PYMA to discuss important trade and industry issues with the stakeholders.

He also agreed on a proposal for the preparation of budget proposals for the new federal budget through mutual consultation.

In the meeting, the PYMA members demanded the government to eliminate the distinction between commercial and industrial importers, to increase the production of synthetic yarns, to abolish Section B, and to reduce the duty drawback.

Mohammad Hanif Lakhani, vice president of the FPCCI; Farhan Ashrafi, convenor of the Yarn Committee of the FPCCI; Khurshid A Shaikh; Muhammad Usman; M Saqib Goodluck; Khurram Bharara; Danish Hanif; Waheed Umer; Sohail Nisar; M Noman Ilyas; M Aslam Moten; Jawed Khanani; and Shoaib Sharif were also present in the meeting.

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