FPCCI holds virtual Pre-Budget consultative meeting | CustomNews.pk

FPCCI holds virtual Pre-Budget consultative meeting

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) held a video-link virtual meeting with the Adviser to PM on Finance & Revenue Dr. Abdul Hafeez Shaikh and discussed the FPCCI proposals for the ensuing Federal Budget 2020-21. Inaugurating the meeting the President FPCCI Mian Anjum Nisar urged the Adviser to PM on Finance & Revenue to use his good offices in waiver of demurrage and container detention charges of those 20,000 containers which could not cleared within the specified time period due to lockdown in the country. The Adviser replied, “ Progress in waiver of demurrage and detention charges would be made within next 24 hours otherwise “. Mr. Zakaria Usman, Convener of the FPCCI Budget Advisory Council (BAC) said that the customs tariff be levied on the basis of cascading to curb post-budget anomalies. He proposed to encourage import substitution industries and export of non-traditional items, establishment of value added industries, promotion of Branding etc. He also invited attention of the Adviser to 6000-7000 motor vehicles which have been stuck-up due to non-availability of encashment certificate because the international flights are not operational and the concerned diaspora could not come Pakistan. He proposed that land be given be given to the investors at cheaper rate for establishment of industries within two years otherwise the land should be confiscated. The Adviser in his statement said that he would hold a joint meeting with FPCCI and Chairman of the Industrial Zone Authority to take decision on establishment of Industrial Zone. He invited FPCCI team to discuss the issue of levying duty on the basis of cascading principle. Regarding vehicle stuck-up at port due to non-availability of encashment certificate, he said to talk to Ministry of Commerce. In response to inordinate delay in Income Tax, Sales Tax and export related refunds (DLTL) he said refunds would be made to all, whether exporter or non-exporter within the stipulated time frame otherwise he may be contacted and informed. He informed that Cheques of Rs. 40 billion refunds have been issued to the taxpayers. In response to withdrawal of Regulatory Duty (RD) on import of tyres due to which tyre import has gone into smuggling regime, Hafeez Shaikh, Advisor to PM on Finance & Revenue said that the tyre importers would get news. He appreciating the FPCCI Pre-Budget Proposals said that these are very comprehensive and would be discussed in detail in Joint meeting with Hammad Azhar, Federal Minister for Industries & Production, Razak Dawood, Adviser to PM for Commerce, Textile and Investment and FPCCI. The FPCCI Chief appreciated the Adviser to PM on Finance & Revenue for making huge payments to the taxpayers of their refund claims.
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