LAHORE: Friends of Economic and Business Reforms (FEBR) president Kashif Anwer has again written letter to Prime Minister Imran Khan seeking relief in demurrage and detention penalties and extension in date of utilities like gas, telephone, mobile, water and others and Federal Board of Revenue (FBR) for income tax, EOBI, Education Cess, Social Security and other revenue authorities to extend the due dates of all the payments until the cash flows get settled and markets are opened.
He said this in a letter written to Prime Minister of Pakistan Imran Khan on Saturday. “It is further prayed not to take any penal action if payments are not made within due dates meanwhile,” the FEBR president said. He said that PM’s timely action will save the businessmen from further financial burden and help them in running their industries smoothly when the pandemic of COVID-19 will end.
“We on behalf of the whole business community complement your untiring efforts to overcome disastrous impacts which COVID-19 has brought for the economy. It is true that Government of Pakistan is trying its level best to facilitate the Nation by announcing different monetary packages to overcome the financial challenges,” he said in the letter.
“Your good self knows that due to this pandemic all the retail & wholesale markets except those exempted are closed in the country since 22nd March 2020. Majority of the business activities have suspended due to which cash flow of every business and individual is badly affected and it has become difficult to fulfill the necessities of life. Industries and businesses are closed resultantly rise in unemployment is expected in days to come,” he added in the letter.
The letter to PM explained that in spite of the lockdown, every citizen has to pay utility bills like residential electricity, gas, phone, mobile and others within due date, every registered business concern has to deposit Sales Tax, Income Tax, EOBI, Education Cess and other payments within prescribed time. Every commercial and industrial importer has to release their consignments to avoid heavy demurrage, detention and storage charges.
“Our Government via different ministries is announcing numerous reliefs for trade & industry but some sectors need your attention too. An example is of charging heavy demurrage and detention charges at all ports and by all shipping lines,” the letter said. Keeping in view the effects of lockdown afterwards on the economy, we request you to ask Ministry of Maritime Affairs to direct all shipping terminals and dry ports not to charge detention and storage charges from importers, also take up the matter of charging heavy detention with all master shipping lines seriously till the pandemic is not over so the importers can be saved from further financial burdens, the FEBR president said in the letter.
“We further pray you humbly to ask SBP to devise a credit policy with the lowest mark-up rate and lenient regulations for importers, small businesses, retailers and small shopkeepers who are unable to clear their consignments and meet their day to day expenses due to financial constraints. It will facilitate them all in these hard times to avail finances from commercial banks and clear their obligations,” the FEBR president said.
