SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has termed the Budget 2015-16 as not export-friendly budget.
Talking to the newsmen at SCCI here today, SCCI President Fazal Jillani said that 50 percent increase in general sales tax from 2 to 3 percent would further create hurdles in the cash flow in Sialkot’s export oriented industry. SCCI demanded early exemption of Sialkot industries from the prevailing taxes, in this regard.
Meanwhile, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has also said that this budget was “non-industrial promotional budget”, saying that the export industry would not get any special benefit through this budget.
Sialkot based Central Chairman of PRGMEA, Ejaz A. Khokhar stated this while talking to the newsmen at Sialkot Chamber of Commerce and Industry. He said that this was not an export-oriented budget, but meant was to promote the imports.
PRGMEA Central Chairman Ejaz A. Khokhar said that the sales tax on yarn and processing has been increased to 5 percent from 1 to 2 percent. He said that the government has allocated only Rs 6 billion which was like a cumin seed in a camel’s mouth. Government should allocate at least Rs 30 billion for export promotion.
He said that this budget was a game of the words, as the government has not given any trade and export related incentives to the industries of the small industrial cities. He said that this budget was not the budget of the industry, as the budget has totally discouraged the SMEs.
