Federation of Pakistan Chambers of Commerce and Industry reject plan to withdraw zero rating in exports

Karachi, May 31, 2013 (PPI-OT): President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Ahmed Malik has strongly opposed the decision to withdraw facility of zero rating of the five exports sectors and impose sales tax. While explaining the issue he said that there is no net collection by FBR on these five sectors. He said that the government wants to collect sales tax and then refund.

There is bound to be corruption blockage of funds and unnecessary hassle. He said that this system is going on well and also appeal to the new government to discuss this matter with the FPCCI and stakeholders before making any change and also requested to incoming Prime Minister, Mian Nawaz Sharif to direct FBR to hold this decision until a meeting held with stakeholders.
He said that the sales tax on exports had become miserable failed as massive corruption in refund system resulted in loss of revenue to the tune of billions of rupees. He said that some vested interests once again trying to open up floodgate of corruption to the FBR officials to mint money while genuine exporters would be left to suffer due to blockade of their capital.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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