Tanners body flays import duty on machinery

31 May '11

2 min read

The recent decision of Pakistan's Federal Board of Revenue (FBR) to withdraw import duty exemption on plant and machinery has been severely condemned by Pakistan Tanners Association (PTA) South Zone Chairman, Aziz Ahmed.

Terming the decision to be anti-industry and anti-nation, Mr. Ahmed said that such a move would cripple country's economy and would eventually bring the country's industrialization to a standstill.

According to Mr. Ahmed, at this point the Government should provide increasing number of incentives to the industry to facilitate economic revival and generation of newer job opportunities in the country. Instead, under pressure from the IMF and the World Bank, the Government is trying to strangle trade and industry.

He further said that the industry in the country is already passing through its toughest time and is facing closure due to vast rise in utility rates, high interest rates and deteriorating law and order situation.

Exporters are unable to execute the export orders, leading to a drop in export earnings, but still the Government is taking decisions that are against the economic interest of the country.

While speaking on the import duty imposition on plant and machinery, Mr. Ahmed stated that it is the last stroke by Government which could completely wipe out the industry.

He demanded immediate withdrawal of the decision and sought duty-free clearance of all the machinery consignments lying at the port.

Fibre2fashion News Desk - India

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