Karachi (PR): Mr. Shaheen Ilyas Sarwana, Acting President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Chairman Federal Board Revenue (FBR) to hold the negotiations with the representatives of goods’ transporters to resolve their issues constraining them to go on an indefinite strike which has entered into 8 days on Wednesday resulting into losses of US $ 36 million per day of foreign exchange besides colossal loss of industrial production.
He lamented that the strike and authorities’ apathy in this regard is causing irreparable loss to the national economy. He elaborated that the strike is affecting manufacturing activities as industrial units in the country are not receiving raw materials and fuel to keep their industrial activities in operation. He added that more than 30,000 containers laden trucks with imported raw material and more than 20,000 container laden with export material are waiting at ports for loading and unloading. The FPCCI Acting Chief apprehended that in case the strike continues, the industrial manufacturing capacity would be hampered due to non ava
ilability of basic raw material well in time, resulting in cancellation of export orders and export markets due to inordinate delay in meeting the export orders within the specified time period. The more tyranny is that the Medical supply particularly the life saving drugs and hospital equipments are stuck up due to this strike.
Mr. Sarwana referring to the reduction in withholding tax rate U/S 234 of the Income Tax Ordinance 2011 from Rs. 5/kg of the laden weight to Rs. 3/kg and now to Rs. 2/kg said that the FBR should have taken this decision in consultation with the stakeholders.