FPCCI wants ST on sugar halved to 8.5pc

Author: Staff Report

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called on the government to cease the unfair treatment of the country’s sugar industry as soon as possible. Karachi Government departments at all levels should stop pursuing and detaining sugar mill owners and officials, according to FPCCI President Mian Nasir Hayat Maggo. He asserted that the government’s actions are creating a climate of fear among industrialists, which in turn is deterring FDI. Maggo also noted that the government recently lowered the sales tax on edible oil from 17pc to 8.5pc and that the same reduction should be implemented for sugar, another daily-use commodity. The head of the FPCCI organization urged the government to keep the country from going into hyperinflation. On top of all that, the government needs to save the sugar business, so the crushing season can start on time. For the sake of local sugar production and employment, he also pushed the government to cease importing cheap but inferior sugar at inflated prices.

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