Farid Shinwari
PESHAWAR: Showing strong reaction towards newly imposed regulatory duties on imported items, the Khyber Pakhtunkhwa Business Community warned federal government to withdraw its decision instantly otherwise they would initiate protest against it.
President of Sarhad Chamber of Commerce and Industry (SCCI), Zahidullah Shinwari while speaking at a news conference on Thursday said the newly-imposed regulatory duty on imported items will not only cause price hike of the consumers goods but will also promote under-invoicing and smuggling into the country that will ultimately result in reduction of government revenue.
He informed the Federal Board of Revenue (FBR) through statutory regulatory order (SRO-1035) had imposed regulatory duties from 10 to 80 per cent on more than 731 essential items, due to which consumers would bear the brunt of additional Rs.25billion new taxes.
He expressed grief over one sided decision taken by central government and saying it did not take the chamber and business community on board, which will not only bring ‘price-hike’, but would promote smuggling of such consumers items. He asked for withdrawal of the decision in best interest of the economy.
Mr Shinwari said that the policy could not lower the current trade deficit, but it would further affect the existing export volume with other regional countries, particularly Afghanistan.
Flanked by the chamber senior vice president, Mohammad Naeem Butt, vice president Malik Niaz Mohammad, and executive committee members, he said the federal government should take measures for giving maximum relief to poor masses and business community, instead of imposing new taxes.
He warned that if the government didn’t withdraw the regulatory duties on imported items, then all chambers and business community in Khyber Pakhtunkhwa would strongly protest against it.
Keeping in view the unjust policies of federal government with Khyber Pakhtunkhwa, SCCI chief said the chamber has decided to hold an all parties conference (APC) in February coming year, aiming at to jointly frame a ‘chartered of economy for development of Khyber Pakhtunkhwa (KP) and Federally Administered Tribal Areas (Fata).
SCCI President has expressed dismay over ignoring of terrorism-affected KP and Fata in the multi-billion dollars, China-Pakistan Economic Corridor. He said SCCI has planned to organize a CPEC conference in this year to raise unanimous voice for due share and rights of KP and tribal region under the CPEC project.
The chamber president said that the businesses and due rights are being affected due to imposition of different laws, so he said the chamber had decided to move in court against all unjust laws, including fuel adjustment charges, Gas infrastructure development cess (GIDC), EOBI, SNGPL, Wapda, tax refunding, professional tax, further tax, withholding tax, Intelligent and Investigation (I&I), Securities Exchange commission of Pakistan (SECP), textbook board and others.
Thought, he said the law and order situation has improved in Khyber Pakhtunkhwa province, but, he added members of business community are still receiving extortion calls by unknown cell phone numbers, which is matter of grave concern.
