LAHORE: The traders and industrialists has rejected the imposition of regulatory duty on 350 luxury items by the government and termed it as a mini budget that will fan the inflation in country.
The traders also added that new taxes will encourage the smuggling in the region and also impose a negative impact on the manufacturing industry.
Anjman-e-Tajran President Khalid Pervaiz and Secretary General Naeem Mir told Customs Today that government has imposed five to ten percent duty on imported goods just to meet the revenue shortfall of Rs 40 billion, adding that such steps will move the importers to make under-invoicing.
Pakistan Small Traders President Baber Butt and Flour Mills Association President Asim Raza said that government has imposed regulatory duty on those items whose smuggling was already increasing. They said that such steps will put burden on the traders who imports goods from many countries.
