Value added sec­tor de­mands zero rat­ing sales tax

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

LA­HORE—The value added ap­parel ex­port sec­tor has de­manded of im­me­di­ate an­nounce­ment of zero rat­ing sales tax for five ex­port sec­tors so that ex­porters may feel con­fi­dent to en­ter into con­tracts with for­eign buy­ers keep­ing in view their cash flow ac­cord­ingly. The de­mand was made by the Chair­man Pak­istan Hosiery Man­u­fac­tur­ers and Ex­porter As­so­ci­a­tion Dr. Khur­ram Tariq and Chair­man Pak­istan Knitwear and Sweaters Ex­porters As­so­ci­a­tion Shahzad Azam Khan.

They have ap­pre­hend that the sales tax zero rat­ing for ex­ports as com­mit­ted by Mr. Ishaq Dar Fi­nance Min­is­ter and Ha­roon Akhtar Khan Ad­vi­sor to Prime Min­is­ter is be­ing jeop­ar­dized by back­ing out from com­mit­ments. In the meet­ing with stake­hold­ers, it was de­cided that th­ese sec­tors will be de­clared truly zero rated not only for raw ma­te­ri­als (ex­cept pack­ing ma­te­ri­als) but also for all in­put com­po­nents like coal, fur­nace oil, diesel, gas and elec­tric­ity. Dr. Khur­ram was of the view that non ful­fill­ment of com­mit­ment by gov­ern­ment will re­sult in loss of its cred­i­bil­ity and busi­ness cir­cles will no more be­lieve in their po­lices.

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