Daily Times

PESHAWAR: The trade and business community of Khyber Pakhtunkhwa (KP) threatened to launch a protest movement if the federal government did not withdraw the newly imposed regulatory duties on the imported items forthwith.

Addressing a news conference, Khyber Pakhtunkhwa Chamber of Commerce and Industry President Zahidullah Shinwari said the recently imposed regulatory duties on imported items would not only cause price hike but also encourage smuggling which would certainly result in revenue reduction.

He informed the Federal Board of Revenue (FBR) through a Statutory Regulatory Order (SRO-1035) that the imposed regulatory duties from 10 to 80 percent on more than 731 essential items will be borne by consumers with the additional Rs 25 billion new taxes.

Without taking countrywide chambers and business community on board, the federal government made the decision which he termed regrettable adding that such acts would only bring price hike. Zahidullah Shinwari said this new policy would not lessen the current trade deficit, but it would further affect the existing export volume with other regional countries, particularly Afghanistan.

Flanked by 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 the poor masses and business community instead of imposing new taxes.

About the unjust policies of the federal government with the KP, he said the chamber has decided to hold an All Parties Conference (APC) in February 2018 aiming at framing a ‘Charter of Economy’ of the KP and FATA.

Ignoring terrorism affected KP and FATA in the multi-billion dollars’ China-Pakistan Economic Corridor (CPEC), he informed the press that they have planned to organise a CPEC conference soon to raise unanimous voice for a due share and rights of the KP and tribal region under the CPEC project.

He said the chamber has also decided to move the court against all unjust laws including fuel adjustment charges, gas infrastructure development cess and other kinds of taxes.

Published in Daily Times, November 4^th 2017.