Karachi, June 18, 2023 (PPI-OT): The chairman of United Business Group (UBG) of FPCCI, Mr. Shahzad Malik has, vide a letter few days ago, complimented the FBR team for compiling an annual budget with maximum relief to the Trade and Industry and substantial incentives to the Agriculture and I.T Sectors.
Shahzad Malik has also brought to the attention of the FBR Chairman Mr. Asim Ahmad, a long pending issue of Freight Tax and suggested that in order to ease the modalities of doing business in Pakistan, Freight Tax should be waived in its entirety. Shahzad has pointed out to the FBR Chairman that, as proposed by the Pakistan Ship’s Agents Association (PSAA) as well, waiver of freight Tax will not only simplify the business documentation process for both exporters and importers but also prevent short payment of freight tax through false documentation. It would also encourage the exporters to maximize selling of their products on C and F basis and importers to maximize their imports on FOB basis - with the end result of saving on 3rd party intervention costs.
Khalid Tawab Chairman UBG Sindh was quite hopeful that the Chairman FBR will look into this important matter of national interest and try to resolve all the issues on priority basis. Khalid Tawab also said that UBG delegation will be meeting the Chairman FBR as well as Federal Minister for Maritime Affairs Mr. Faisal Sabzwari for early positive decision on this most important issue which will also result in “bringing down cost of doing business, improvement of exports from Pakistan, savings to both exporters and importers and facilitate in ease of doing business.
For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426