FPCCI urged to resolve issue of regulatory duty

Pakistan FMCG Importers Association (PIFA) has urged the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) to play its due role to convince the government for resolving the issue of imposition of regulatory duty on hundreds of items being imported in the country causing hike in their prices as well as encouraging smuggling and other wrong doings.

PFIA delegation led by its Secretary General Ali Tariq Mattoo called on the FPCCI President Ghazanfar Bilour at Islamabad office of the Federation and apprised him the disadvantages of regulatory duty imposed by the government on over 400 items and impact of its higher rates.

They said that the government would not get any benefit out of this duty to supplement its revenue collection rather it would encourage the smuggling and bringing these items to the country through informal channels.

Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed, Senior Vice President ICCI Muhammad Naveed Malik, Pakistan Flour Mills Association ( PFMA) leader Yasir Ahmad Sheikh and others were also present during the meeting.

PFIA leadership also drew the attention of the FPCCI towards the smuggling under the garb of Afghan Transit Trade and its negative impact on Pakistani economy. They said that the government had tried to increase its revenue collection by imposing regulatory duty but it would encourage the smugglers and those who believe in under- invoicing or other wrong doings. They said that it would discourage the importers who wanted to pay their due taxes and contribute to the national development.

FPCCI President Ghazanfar Bilour assured the PFIA leaders to raise the issue at all the platforms concerned to get it resolved at the earliest. He said that next meeting on this burning issue of the business community would be convened in Karachi to chalk out some strategy for saving the importers from extra burden.