Islamabad, June 12, 2016 (PPI-OT): Islamabad Chamber of Small Traders on Sunday asked the government to review taxes slapped on the dairy sector as it will result in widespread malnutrition and discourage foreign investors. Government should not increase taxes on the dairy sector, rather it should get status of zero-rated industry, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
In a statement issued here today, he said that the new tax structure is complicated while additional taxes will hit infants the most as almost half of the child population in the country is already stunted. He said that the officials who consider dry milk a luxury are doing great disservice to the people of Pakistan.
Shahid Rasheed Butt said that seventeen percent tax in dairy inputs, and twenty five percent regulatory duty on import of dry milk is simply unacceptable as importers were already paying twenty percent customs duty on milk imports. He said that budgetary measures have already deterred a European multinational which had planned to invest 500 million dollars in Pakistan in the initial stage and the company was planning to invest more in the later stage.
He said that government has already given too much relaxations to the agricultural sector in the budget therefore it shouldn’t compromise on the interest of masses to please the tax-exempted landed elite which has a clear majority in the National Assembly.
For more information, contact:
Islamabad Chamber of Small Traders and Small Industry
Office No, 9 Block E, Super Market, Islamabad