LAHORE: The poultry industry will have to bear Rs700 billion loss, besides 25 per cent hike in prices due to imposition of 5 per cent sales tax on poultry feeds in the budget presented by the federal government for the fiscal year 2015-16.
Pakistan Poultry Association (North Zone) Chairman Muhammad Mustafa Kamal, during a press briefing, said that the new budget has demoralised and depressed poultry farmers because the government has slapped 5% sales tax on all types of poultry feeds while 10% duty has been imposed on import of soybean along with 10% sales tax on it.
“The heavy duty on import of soybean meal is not logical because it is a raw material of the poultry industry, which is not produced in the country,” he said.
He said that 25% tax on poultry feeds will deprive the poor of a cheap source of animal protein at affordable prices. If the industry passes on this 25% additional cost to consumers they will be unable to purchase the expensive poultry products, he added.
