LCCI, PCDMA and Indenters Association stand together with importers of industrial raw materials and traders on issues of SRO 1125
Lahore, April 05, 2019 (PPI-OT): A joint delegation of Pakistan Chemicals and Dyes Merchants Association (PCDMA) and Indenters Association of Pakistan, Under leadership of Saquib Fayyaz Magoon, Former Vice President FPCCI visited LCCI and informed LCCI Vice President Faheem-ur-Rehman Saigal that SRO 1125(I)/2011 is creating a lot of trouble.
LCCI former President Mian Anjum Nisar, Chairman indenters Association of Pakistan Saqib Fayyaz Magoon, Chairman PCDMA Shahid Wasim, President PCDMA Lahore Chaper Muhammad Kashif, Vice Chairman PCDMA M. Saleem Nini, LCCI Executive Committee Members Sheikh Zafar Iqbal and Naeem Hanif were also present on the occasion and unanimously spoke to take up this matter of unjustified taxation on these sectors with Prime Minister and Federal Finance Minister to get it resolved.
This SRO was applicable after reducing a long list of multipurpose items (used by all industries) to a very short list of those items which are mainly used in five zero-rated sectors such as textile, leather, carpet, surgical and sports.
The delegation members said that the commercial importers are providing industrial raw material for value addition to industries. Therefore all stakeholders in this chain have same respect so must be given opportunity to be heared before taking any harsh measures.
The LCCI Vice President Faheem-ur-Rehman Saigal said that genuine reservations of Pakistan Chemical and Dyers Merchants Association and Indenters Association must be addressed by the top authorities. He said that Federal Board of Revenue should review SRO 1125(I)/2011 and make necessary amendments with consultation with the stakeholders as per ease of doing business concept.
Former LCCI President Mian Anjum Nisar said that no industry can run without chemicals and dyers as these are one of the most important raw materials. He said that Federal Board of Revenue should take notice of the complaints of businessmen about SRO 1125(I)/2011 and should make immediate amendments.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Category: General Business News