Press ReleaseFPCCI terms gas crisis, huge taxes threatening for export

FPCCI terms gas crisis, huge taxes threatening for export

Mian Nasser Hyatt Maggo, President of the Federation of Pakistan Chambers of Commerce and Industry has urged the government to take effective measures to overcome the gas crisis and ensure uninterrupted supply of gas to industries as well as reduce electricity tariffs. If the government does not address the problems of electricity and gas, trade and industry will suffer severely and exports will be affected while revenue will also decline.

He said this while addressing a meeting on the occasion of the visit of a delegation led by Saqib Naseem, Central Chairman, Pakistan Yarn Merchants Association (PYMA) to FPCCI. Mohammad Hanif Lakhani, Vice President FPCCI, Farhan Ashrafi, Convenor Yarn committee FPCCI, Khurshid A. Shaikh, Muhammad Usman, M. Saqib Goodluck, Khurram Bharara, Farhan Ashrafi, Danish Hanif, Waheed Umer, Sohail Nisar, M. Noman Ilyas, M. Aslam Moten, Jawed Khanani and Shoaib Sharif were also present in the meeting.

Highlighting the important issues of the country, Nasser Hyatt Maggo said that power shortage and gas crisis across the country has badly affected the people including industries. The government must take these crises seriously.

He asked the PYMA members about the issues facing them regarding the duties and taxes imposed in the federal budget. Will play a full role in solving problems. FPCCI president also sought suggestions from PYMA for the forthcoming budget so that every effort could be made to make it a part of the budget.

Saqib Naseem, PYMA chairman expressed satisfaction over the FPCCI’s proposal to set up a committee and accept the invitation to visit PYMA to discuss important trade and industry issues with stakeholders. He also agreed on a proposal for the preparation of budget proposals for the new federal budget through mutual consultation.

In the meeting, PYMA members demanded the government to eliminate the distinction between commercial & industrial importers, to increase the production of synthetic yarns, to abolish section B, and to reduce the duty drawback.

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