Printer Friendly

Taxes on compressed gas could further affect adversely economy: Shaikhani.

HYDERABAD -- President Hyderabad Chamber of small trades and small industry Farooq Ahmed Shaikhani has said that custom, excise duty, sales tax and other proposed taxes on compressed gas could only leave adverse effects on country's economy. With it fares of transportation and commercial and electricity, fertilizers, textiles and general industry would also increase as energy generated from gas and electricity would rise sky high which would require double capital in industrial production which country can't tolerate. Shaikhani said by imposing 5% custom duty on NLG and 10 federal excise duty use of petrol would increase which NLG station might be closed. He said consumption of gases was mostly completed by country's natural gas and only 20% of it is relied on imported gas. Shaikhani made appeal to prime minister, advisor on finance to get budget passed with reducing custom duty, federal excise duty and other taxes and save country's economy from brink of devastation. People and business community of country had high hopes in this government of relief but unfortunately despite presenting mini budget now by influx of taxes was tantamount to cruel treatment with Pakistan economy, he added.

COPYRIGHT 2019 Knowledge Bylanes
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Messenger (Karachi, Pakistan)
Date:Jun 21, 2019
Previous Article:Mango Festival Hyderabad to be held on 29,30 June.
Next Article:Hafeez Sheikh forms committee to address business community's woes.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters