KARACHI: Chairman of the Senate Standing Committee on Finance & Revenue, Senator Saleem Mandviwalla, pledged to address pivotal issues faced by the chemicals and dyes sector, including taxation, import policies, the Export Facilitation Scheme (EFS), and e-invoicing. The assurance came during his address at the annual dinner of the Pakistan Chemicals & Dyes Merchants Association (PCDMA), where he emphasized the need for ongoing engagement between the business community and the government.

According to Pakistan Chemicals and Dyes Merchants Association, Senator Mandviwalla highlighted the importance of continuous dialogue with policymakers rather than limiting discussions to the federal budget period. He assured PCDMA Chairman Salim Valimuhammad that the Senate committee would prioritize the sector's concerns, planning to convene with the Federal Board of Revenue (FBR), the Ministry of Finance, and other relevant entities to seek resolutions.

Senator Mandviwalla stressed that while the interests of commercial importers and industrialists may differ, finding common ground is crucial to preventing disruptions in business activities. He mentioned a review of the exclusion of certain sectors from the EFS, considering the broader implications on exports and imports.

PCDMA Chairman Salim Valimuhammad urged immediate action to curb EFS misuse and address tax disparities, noting the sector's critical role in supporting export-oriented industries like textiles and pharmaceuticals. He advocated for linking EFS imports to actual foreign remittances, imposing a 40 percent limit, and introducing regular audits based on historical consumption and export data.

Mr. Valimuhammad also called for the removal of the additional three percent sales tax and a level playing field between commercial and industrial importers. He urged collaborative efforts with the Senate, Ministry of Finance, and FBR to resolve e-invoicing challenges.