LAHORE: The poultry farmers have severely criticised the government decision to impose heavy duty on import of soybean meal, saying, it is raw material of the poultry industry, which is not produced locally.
The Pakistan Poultry Association (PPA), in its budget 2016-17 proposals, has sought exemption from regulatory duty on the import of grandparent chicks and soybean meal, as both of them are not produced in the country, said former PPA chairman Abdul Basit.
Presently 10 per cent custom duty and 10 per cent sales tax on soybean meal have already raised the cost while an additional increase in sales tax on soybean meal as proposed in the coming budget of 2016-17 would destroy the industry fully.
The farmers are already paying 30 per cent regulatory duty on import of corn. If these taxes and duty continued in budget 2016-17, it would be a big dream to buy chicken and eggs for public in coming days.
In November 2015, amendments were brought about in the tariffs to raise additional revenue by imposing regulatory import duties and a 10 percent regulatory import duty was levied on live poultry weighing less than 185 grams falling under PCT heading 0105-1100 which are essentially day old grandparent stocks.
GP stocks are the foundation of poultry production sector which are not being produced within the country.
Earlier the import duty was 5 percent, however, now there is 5 percent import duty plus 10 percent regulatory duty – total being 15 percent. He informed that there are only three genetic companies in the world, which produce these and sell them at a very high price ranging from $25-30/chick for production of Parent Stock females and males.
