Faisalabad
Faisalabad Chamber of Commerce & Industry (FCCI) President Sikandar-e-Azam Khan said on Saturday that federal and provincial budgets should be tax free in the wake of coronavirus pandemic.
Addressing a video link conference of all chambers presidents organized by Rawalpindi Chamber of Commerce and Industry (RCCI), the FCCI president demanded the government to extend incentives to the vulnerable SMEs sector. He said that new jobs should be created by encouraging the establishment of new labour intensive industry.
“Similarly zero-rated schemes should also be revived for five major exports sectors”, he said and added that the present tariff of sales tax was very high and it must be rationalized with maximum rate of only 5 percent.
He said that rate of other taxes should also be trimmed proportionately. The FCCI President said that powerlooms were the biggest domestic industry which had been suffering due to coronavirus lockdown.
“Around 100,000 families are directly and indirectly depended on it”, he said and added that powerloom workers belong to lower strata of economy and were facing worst ever crisis of the history.—APP
