The Federation of Pakistan Chamber of Commerce and Industry’s United Business Group (UBG) on Sunday, while hailing the decision of the prime minister on reducing fuel prices, said that it will help control inflation and restore confidence of business community.
UBG Chairman Shahzad Ali Malik said in a press statement that it was a good decision of the government to pass on impact of petroleum prices to the masses and continue a ban on luxury goods. He said government should slash super tax and bring down other taxes levied on industries and the business community to speed up the slowed economic growth and accelerate the commercial activities in the country which he added would help steer the country out of the economic turmoil.
He also termed the decision of the cabinet to allow clearance of luxury goods arrived at ports, two weeks after the ban on such imports, on the payment of five percent fine and 15pc duty on consignments. He said suspension of certain conditions on imports of timber/wood till August 31 will rectify the genuine hardship of timber importers in getting cleared their 224 containers.
Shahzad Ali Malik said that the decision to allow the import of goods of Afghan origin against the Pakistani currency and without the requirement of importers’ electric 1-Form for a period of one year will boost trade between the two Muslim neighbouring countries besides helping Afghanistan in strengthening its economic base.
