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Higher taxes on liquefied gasses to hit economy

KARACHI: President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said enhancing taxes on liquefied gasses will hit almost all the important sectors of the economy. Enhancing Customs duty, Federal Excise duty and Sales Tax on import of LNG and LPG will hit masses, therefore, the proposal should be reviewed, he said. Mian Zahid Hussain said that boosted duties and taxes on LNG will increase the price of poor man’s fuel, it will increase fare of transportation while the cost of doing business of power, fertiliser, textile and general industry will increase. Talking to the business community, the veteran business leader said that the power sector will increase cost on consumers while fertilise sector will make their product costly for farmers hitting agriculture. Online



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