KARACHI: Chemical merchants have rejected the decision of the government to impose regulatory duty on 250 imported items.
Arif Lakhani, Chairman Pakistan Chemicals & Dyes Merchants Association (PCDMA), in a statement issued on Monday expressed serious concern over imposition of regulatory duty on 250 imported items by Ministry of Commerce and FBR and totally rejected the imposition of regulatory duty.
He said that this move will obstruct the progress of country. “So before going to implement any decision, it should be consulted with all stake holders to avoid any effect in economy of country and business activities, make decision with mutual consent.”
Lakhani said that basic item of house hold including pulses and fruits and 100 items from agriculture sector also included in the list of regulatory duty of 250 imported items, which is not wisely decision.
He further said that imposition of RD on imported raw material of industries and agricultural product will definitely make the bad impact on importing activities, because importers will import limited, due to additional regulatory duty, which increase their value and it also shortage of important items included pulses in the local market. It will not only increase prices in local market but also will have inflationary pressure, which effect the common man, also promote smuggling, which causes loss of national revenue.
PCDMA chairman demanded Federal Commerce Minister and Chairman FBR to avoid imposing additional regulatory duty on any imported item without consultation to all stake holders, before making any decision and give importance to their suggestion.
