Smuggling of raw materials to cause exchequer Rs50 billion loss

KARACHI: The discrimination, in taxes on import of raw material, between industrial importers and commercial importers would increase illegitimate trade of such goods causing an estimated loss of Rs50 billion/annum to the national exchequer, Shahid Vaseem Chairman Pakistan Chemicals and Dyes Merchants Association (PCDMA) said.

[the_ad id=”32940″]“This inequality in taxes attracts unscrupulous elements to import raw material in the grab of industrial importers and sell it in the open market. Therefore, destroying the legitimate business of commercial importers, as their import cost is higher than the cost of industrial importers.

The closed industrial units and many units in operation are also taking advantage of their flawed and skewed policy and they import raw material beyond their actual consumption and sell them in open market to make profit & destroy the business of commercial importers.

PTI government, which mostly comprises of unelected advisors, is criticised by traders, industrialists, business community for inefficiency and taking measures that are counter productive.

However, the government unable to improve the economy and failing on every front, continues to blame previous government for everything.

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