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FAISALABAD, Jun 24 (APP): The Faisalabad Chamber of Commerce & Industry (FCCI) demanded maximum incentives and relief for the exporters so that they could play their active role in strengthening national economy by fetching precious foreign exchange for the country.
in a statement here on Monday, Dr Khurram Tariq, President FCCI, said that the tax regime change for exporters would foment complicated issues having a direct impact on exports in addition to trimming overall industrial production and enhancing unemployment in the country.
He said that exporters are facing daunting challenges of appreciation of dollars, costly imports for export purposes, and an unbearable tariff of electricity and gas as compared to other regional countries. The government must dole out maximum incentives, relief and facilities to exporters in addition to withdrawing a cross-subsidy of Rs.243 billion paid by industrial exporters if it has a strong will to enhance exports, he demanded.
He said that finances are available in the open market at 22.5% and it is next to impossible for the SME sector to earn profit with this high mark-up. Exporters have always supported the government and now they could enhance final tax regime payment to 1.5% to avoid their inclusion in normal tax regime as it may open floodgates of corruption and create multiple problems for the exporters.
The government should take immediate decisions as the entire export sector is in a quandary as they could not work out costing for their future exportable surplus and orders, he added.