ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said it supports the decision of the government to discourage imports of needless items to save foreign exchange and reduce trade deficit.
The decision of the Finance Minister Ishaq Dar will support local producers while it will reduce imports and increase revenue for the government, it said. Business community supports the decision to upward revise regulatory duty on import of fish from ten percent to twenty five percent, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries. Government has increased regulatory duty from fifteen percent to twenty percent on yogurt, cheese, honey and other dairy products to discourage its consumption which will also help local producers, he said. Atif Ikram Sheikh said that government should also keep an eye on local producers to keep them from using this opportunity to exploit masses while the decision may encourage smuggling which must be checked.
He said that duty on import of fruits and vegetables has also been jacked up by five percent while taxes on import of cornflakes, biscuits, bread, pickles, dry fruit juices, ice cream, ketchup, coffee, beverages, mineral water and other items has been increased which is a very good decision.
The business leader said that we support move to hike duty on cosmetics, leather items, shoes, fans, sports goods, wooden furniture, arms and ammunition etc.
These steps will discourage consumption of many imported items which are already produced locally which will promote local businesses but government needs to include more items in the list, he demanded.
