Traders call for curbing plastic smuggling
Lahore, Pakistan: The Lahore Chamber of Commerce and Industry (LCCI) Wednesday demanded the government to take stringent measures to stop smuggling of plastic raw material and finished goods which are destroying the local plastic industry.
LCCI President Sheikh Muhammad Arshad raised this demand, while talking to the delegation of plastic industry led by Khadim Hussain here at Lahore Chamber, where LCCI Vice President Nasir Saeed also spoke on the occasion.
Sheikh Arshad said plastic industry was the third largest source of government revenues, therefore, a cluster for plastic industry of Punjab should be established that would not only be a great favour to the businessmen attached with this sector but also enhance the government revenue.
He also demanded the Federal Board of Revenue to reduce the Sales Tax on plastic products. “This will discourage smuggling as a whole and also the sale/trade of smuggled raw material and finished products,” he observed.
He said smuggling of plastic raw material and finished goods causing losses up to Rs 60 billion to the national exchequer so the government should cope with the menace of smuggling.
LCCI Vice President Nasir Saeed also urged the government to ensure uninterrupted electricity supply to the plastic industry.
He informed the visiting delegation that the Lahore Chamber of Commerce & Industry would give a set of comprehensive proposals to the government for revival of the economic activities in the country in general and in Punjab in particular. The Lahore chamber, he added, had already started spade work to this regard and holding meetings with the representatives of trade and industry to point out the challenges being faced by them.
He said the business community was backbone of economy as more than 90Â percent revenue was being collected through trade and industry, therefore, the businessmen should be given due facilitation and for the purpose the LCCI would continue to play its role proactively.
Nasir Saeed hoped that issue of withholding tax on banking transactions would be resolved amicably as assured by the Federal Finance Minister.
Earlier, head of the delegation of Plastic Industry Khadim Hussain briefed the LCCI office-bearers about challenges being faced by the Plastic Industry of Pakistan. He said that high input cost and smuggling were making the Pakistani plastic good uncompetitive.
He hoped that the LCCI would raise its voice to the policy making corridors. He also lauded the LCCI role for economic uplift of the country.
Source: APP
