The newly-elected Chairman Pakistan Soap Manufacturers Association (PSMA) for the year 2021-22, Mr Shahzad Mushtaq Paracha has said that the soap industry is in extreme crisis and is on the verge of destruction in the post pandemic situation.
He appealed to govt and relevant authorities to give tax relaxations on import of raw material and other incentives to save the industry from destruction.
He quoted the example of imposition of a big 50% regulatory duty on soap noodles that are imported and questioned as to how is it possible with such costly raw material and such high tariffs and taxes for the soap industry to survive.
He said that high tarrifs will encourage people to opt for unofficial channels, and smuggling is likely to increase so govt must lower the tarrifs.
“The government must cut the regulatory duty down to 0% on raw material used for soap manufacturing so that the cost of doing business is within reach of the individuals attached with this industry”, he said.
It may the mentioned here that the Annual Election of Pakistan Soap Manufacturers Association was held recently according to Rules of Trade Organization 2013 to elect the new members of Managing Committee and Office Bearers for the year 2021-2022.
The newly-elected unopposed office-bearers are Shahzad Mushtaq Paracha of Paracha Soap & Chemical Industries (Pvt) Limited, Faisalabad as Chairman, M Shoaib Sethi of Khatoon Industries (Pvt) Limited, Gujranwala as Senior Vice Chairman & Tariq Zakaria of A K Industries, Karachi as Vice Chairman.
Syed Anwer Suhail Razvi, Sh Muhammad Ilyas, Sheikh Iftikhar Anwer Sethi, Shahzad Mushtaq Paracha, M Ali Zia and Zafar Mahmood are six newly-elected unopposed Members of Managing Committee.