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Abolition of sales tax on sugar demanded
KARACHI (April 16
2004): The Federation of Pakistan Chambers of
Commerce and Industry (FPCCI) has demanded
abolition of sales tax on sugar.
The demand was made at the first meeting of the
FPCCI Standing Committee on Sugar held under the
chairmanship of its Chairman Amanullah Farooq.
The committee pointed out that sugar was the only
food item on which sales tax had been levied.
It noted that an estimated over one billion tonnes
of sugar would be surplus this year in the
country, and urged the government to either
facilitate its export or purchase the surplus
stock.
Amanullah Farooq pointed out that all the major
sugar producing countries such as the US, European
Union (EU), Brazil, Cuba, Thailand etc were
subsidising its export, but the Pakistan
government was not supporting the proposal even
for self-supportive export of surplus sugar.
The meetings stressed the need for close
collaboration and regular interaction between the
FPCCI and Pakistan Sugar Mills Association (PSMA)
for resolving the problems of the sugar industry,
which was a major industry of the country.
Speaking next, Sindh zone PSMA Chairman Shunaid
Qureshi demanded a firm government policy for
export of sugar and holding of stock as part of
food security programme, which would facilitate
higher sugar production in future, diminish import
prospects, stabilise prices, increase the gross
domestic product (GDP), employment, rural
development and poverty alleviation.
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Pakissan.com; Advisory Point
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