F.P. Report
KARACHI: Anjum Nisar, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has agreed on joint efforts with the Pakistan Chemicals and Dyes Merchants Association (PCDMA) to resolve the problems facing commercial importers on a priority basis.
while meeting with the delegation led by PCDMA Chairman and former Director Karachi Stock Exchange, Amin Yousuf Balagamwala at the Federation House, he assured that the government will be informed about the problems as well as contact with relevant departments will be intensified.
The delegation included VP PCDMA, Asif Ibrahim, Former Chairman, Arif Balagamwala, Chaudhary Naseer, Nasir Hayat Magoo. Mr. Khurram Ijaz, VP FPCCI, Mr. Mian Zahid Hussain, BMP Leader and Saqib Fayyaz Magoo and others also attended the meeting.
Mr. Anjum Nisar said that the role of commercial importers in the supply of raw materials is crucial to continue the growth of production activities in the export sector, particularly in the textile sector. keeping in view other important proposals, including resolving the issue, the committee will be constituted.
Which will send recommendations to the relevant bodies, including the government, and efforts will be made on the FPCCI platform to ensure that the FPCCI play an effective role in providing a favorable business environment to commercial importers.
Mr. Amin Yousaf Balagamwala Chairman PCDMA and former Director Karachi Stock Exchange, said that the Customs Department had not changed the valuation rolling for two years. In the global market, item prices have dropped below $ 1000 to $ 600, but instead of reducing the valuation rolling, the Customs Department is receiving duty at $ 1000 from importers, which needs to be revised according to the global market.
He Emphasizing on tackling the problem of 10% additional sales tax, saying that sales tax and duty tariff should be reduced to promote industrial activity, because commercial importers do not import consumer goods but import industrial raw materials, the government must ensure to reduce sales tax and duty tariff to ensure the supply of raw materials at reasonable prices.
He expressed concern over non-acceptance of PCDMA certification for weboc ID, saying that PCDMA is A Class Association besides represent Commercial Importers across the country. Therefore, the Karachi Chamber as well as the PCDMA certification should be accepted. In response, the President of the FPCCI assured that he would contact the Chinese Embassy in this regard and send a letter.
Amin Yousuf Balagamwala proposes setting up special zones for manufacturing of chemicals & dyes in Pakistan, saying that a policy of 5 to 10 years should be formulated with the provision of proper infrastructure, because overnight policy changes and repeated increases in electricity and gas prices cause a lot of damage to the industry, so that measures can be taken to boost industrial activities.
