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Pakistan's powerloom sector protests against new taxes
21 Nov '11
2 min read
Owners of powerloom units in Pakistan have announced that they would launch a protest from Monday against the levy of new taxes, power and gas outages and relentlessly rising cost of power and fuel.
Waheed Khalid Ramay, Chairman of Council of Loom Owners Association, said the industry was already ailing due to costly raw material and high operational cost, and now the compulsion for registered producers, importers and exporters for obtaining National Tax Number (NTN) and Computerised National Identity Card (CNIC) number of unauthorized traders while transacting with them has further added to their difficulties.
Moreover, acute power and gas load-shedding issues are posing a challenge before the industrialists to sustain their business operations, while continuously rising prices of petroleum products is compelling them to cease out of business, he added.
Mr. Ramay stated that these adversities would compel closure of industrial units, which would, in turn, result in large-scale unemployment that would create a law and order problem in the country.
He recommended that the Government should ask the Federal Board of Revenue (FBR) to rollback SRO-821 that stipulates the conditions relating to the requirement of CNIC and NTN for dealings with unauthorised dealers, and added that the protest would go on till their demands are accepted.
Meanwhile, other entrepreneurs also urged the Government to immediately rollback all unlawful and anti-industry taxes and levies, failing which, they said, they would launch a powerful protest across the country.
Waheed Khalid Ramay, Chairman of Council of Loom Owners Association, said the industry was already ailing due to costly raw material and high operational cost, and now the compulsion for registered producers, importers and exporters for obtaining National Tax Number (NTN) and Computerised National Identity Card (CNIC) number of unauthorized traders while transacting with them has further added to their difficulties.
Moreover, acute power and gas load-shedding issues are posing a challenge before the industrialists to sustain their business operations, while continuously rising prices of petroleum products is compelling them to cease out of business, he added.
Mr. Ramay stated that these adversities would compel closure of industrial units, which would, in turn, result in large-scale unemployment that would create a law and order problem in the country.
He recommended that the Government should ask the Federal Board of Revenue (FBR) to rollback SRO-821 that stipulates the conditions relating to the requirement of CNIC and NTN for dealings with unauthorised dealers, and added that the protest would go on till their demands are accepted.
Meanwhile, other entrepreneurs also urged the Government to immediately rollback all unlawful and anti-industry taxes and levies, failing which, they said, they would launch a powerful protest across the country.
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