LAHORE: Duty and tax rate for textile traders are too high that must be brought down and the Lahore Chamber of Commerce & Industry can play a key role in this regard.
These views were expressed by the delegation of Textile Traders Association of Pakistan during a meeting with the LCCI President Mian Nauman Kabir at the LCCI. Adnan Sehgal was leading the delegation while LCCI Vice President Haris Ateeq and former LCCI President Tahir Javed Malik, former Vice President Tahir Manzoor Chaudhry and Executive Committee Member Ali Afzal were also present on the occasion. The delegation members sought help of the Lahore Chamber of Commerce and Industry (LCCI) for ease in business and to get their genuine issues resolved.
The delegation members said that rate of Sales Tax/withholding on supplies of textile traders is too high that should be brought down. They also highlighted the issues of poor mobile signals, inappropriate sewerage system and lack of infrastructure on Railway Road.
They hoped that the Lahore Chamber will get the matters resolved by having a close interaction with the government’s high authorities.
The LCCI President Mian Nauman Kabir said that businesses cannot grow in the presence of cumbersome taxation system, double taxation, high cost of doing business, lack of infrastructure in markets and severe traffic jams etc., therefore government should resolve these issues that would be equally good for both businessmen and the government.
Mian Nauman Kabir said that the government and private sector are vital for each other and they cannot run alone therefore the government must develop policies conducive for business environment and address genuine issues of the business community.
He said that there is an urgent need to reform the taxation system by engaging all the stakeholders and called to get rid of the cumbersome taxation system that is hampering the trade and economic activities in the country.
The LCCI President said that the government has taken an appreciable step by taking back the decision of increase in property tax in its recent cabinet meeting. He said that such initiatives are much-needed to ensure a business friendly atmosphere in the country.
He said that the government must take private sector on board while formulating trade and industry related policies. Being the engine of growth, private sector has the ability to supplement the government efforts aimed at economic revival of the country. Mian Nauman Kabir said that a Help Desk for SMEs will be established at the LCCI soon.
