Staff Reporter
Karachi
Amin Yousuf Balgamwala, chairman PCDMA & former director of Karachi Stock Exchange has expressed reservations over non-removal of budget anomalies by ignoring PCDMA’s recommendations and requested for a review from new chairman FBR Javed Ghani.
Chairman PCDMA demanded to restore 2pc income tax on commercial importers and withdraw the decision to increase the income tax rate to 5.5pc. “No importance was given by the FBR anomalies committee while the Advisor to the PM on Trade & Investment Abdul Razak Dawood also did not play his role as a result demurrage & detention Charges are being imposed on imported goods at the ports”, he added.
He said that the PCDMA had pointed out in the proposals sent to the budget anomalies committee that in the federal budget for the financial year 2020-21, many raw materials of chemicals & dyes have been included in part2 to part3 i.e. finished goods and the income tax rate has gone up from 2pc to 5.5pc.
