President FPCCI Irfan Iqbal Sheikh has expressed his concern over the lack of facilitation and fair environment to the distributors and merchants of industrial raw materials which play an indispensable role in export growth and import substitution.
He was speaking at a session with large-scale merchants from the platform of Pakistan Chemical and Dyes Merchants Association at the Federation House, said FPCCI press release on Thursday.
Irfan Iqbal Sheikh said the chemical merchants must be brought into normal tax regime instead of its current status of being in the minimum tax regime for the past two years; when it was removed from final tax regime. He also proposed that for fighting the menace of flying invoices in the sector, the condition of customer CNIC copy should be exempted and the turnover tax should be brought down to 1 percent immediately; from the current level of 1.25 percent. Going forward, it should be brought down to 0.5 percent gradually, he added.—APP
