KARACHI: Nasser Hyatt Maggo, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has questioned the appointment of Sultan Ali Allana as chairman of the Senate Standing Committee on Budget Anomalies, while expressing deep concern over decisions by committee before conducting meeting, which is beyond comprehension.
He said this while addressing the 1st meeting of the FPCCI Standing Committee on Yarns held at Federation House. Hanif Lakhany, Vice President FPCCI & Senior Vice Chairman Pakistan Yarn Merchants Association (PYMA), Farhan Ashrafi, Convener Yarn Standing Committee & Vice Chairman PYMA, Hafeez Aziz, former Zonal Chairman PAYA, Chief PCLC, Junaid–ur- Rehman, Saqib Naseem, Junaid Teli, Muhammad Usman, Khurshid A. Shaikh, Sohail Nisar, Altaf Haroon, Hussain Moosani, Jawed Khanani, Iqbal Godil, Shoaib Ilyas, Farrukh Anis, Abdul Samad Gaba, Shoaib Sharif, Abdul Qadir Shekhani, Rizwan Diwan, Fareed Bilwani, Amjad Qureshi & M. Naveed attended the Meeting.
Nasser Hyatt Maggo stated that, he pointed out in a meeting of the budget anomalies committee headed by Sultan Ali Allana (HBL), why is a meeting convened when decisions have to be made in advance? He said that decisions are being imposed without consultation, which is a total injustice. However, decisions should be taken in consultation with FPCCI and other stakeholders.
Hanif Lakhany, Farhan Ashrafi said that in the budget speech 2% customs duty on filament yarn, 2% additional customs duty reduction and abolition of 2.5% regulatory duty were announced, but unfortunately, all the recommendations of the Commerce Division were ignored, and without Stakeholder consultation, anomalies committee’s recommendations were made part of the budget, which is unacceptable.
“In case of non-reduction of duties and non-abolition of duty, the rate of duty on cloth & yarn will be the same. As a result, the textile industry is feared to be shut down, while the 7pc gap was not maintained under cascading”, they expressed concern.
Hanif Lakhany, Farhan Ashrafi, demanded that the duty structure be changed as announced in the budget document so that industries could create vast employment opportunities.
Khurshid A. Shaikh, member committee & former central chairman PYMA, said that the user industry of the yarn sector is facing big loss as the cotton production is very low. Fiber & Yarn are two major sectors who can boost the Textile Sector of the country.
- Usman said that Nylon Yarn & Viscose Yarn are major issues. We request Nasser Hyatt Maggo, President FPCCI & the government to resolve the issue of Tariff over yarn & fiber.
Hafeez Aziz, Chief PCLC, said yarn traders are facing a lot of problems at different stages and they don’t get refunds for many years. In exports, yarn traders play a major role but they suffer much. FBR always keeps yarn traders in darkness and always demands tax more than income from traders.
Junaid-ur-Rehman, member managing committee of KCCI, said that we should also discuss issues of cotton yarn & government policy for raw material of cotton must be Pro-Business & Industry.
Muhammad Hussain Moosani, observed that government & FBR always talk about subsidies & not issues. He further said that quantity of seed is a major issue & we should improve the quality of Cotton Seed. Another issue is non–availability of Quality Fertilizers & Pesticides.
