The Chairman Standing Committee Federation of Pakistan Commerce and Industry (FPCCI) Khalid Jahangir Butt has demanded to bring amendments in the policies of sale tax, income tax and custom act for the betterment of industrial department.
According to details, he made demands through separate letters that were written to member custom Federal Board of Revenue (FBR) and Member policy FBR Islamabad. While pointing out the troubles of steel pipe industry regarding the custom act he stated that regulatory duty up to 12.50% on import of steel products was feasible. He pointed out in written letters that same law should be formulated for industrials and exporters so that can compete each other in market. The chairman pointed out that the further tax has created a mess for the industry and it cannot be handled as we have a very specific value addition and finding registered persons to save further tax is almost impossible.
Secondly the sections 236G and 236H don’t have a proper application so these should be considered removal for industry in this budget, he added.