Lahore Chamber of Commerce and Industry has urged Federal Board of Revenue to help stop smuggling of plastic moulding compound from Iran by land route as the government will suffer a huge loss of Rs25 billion annually if the practice goes on unchecked. LCCI President Irfan Qaiser Sheikh was talking to a delegation of plastic importers and traders association led by chairman of the association Sheikh Mohammad Ayub here on Wednesday. LCCI President, after having an hour-long meeting with the delegation, said that it is very surprising that on the one hand the FBR authorities were playing arm-twisting with the exiting tax payers by issuing SROs like 821(I) 2011 while on the other hand the menace of smuggling is fast spreading its tentacles under their watch and at the cost exchequer.
Irfan Qaiser Sheikh said authorities concerned should immediately ban import of polyethene and polyproplene from Iran via land route from any border of Pakistan as at present these products are available in the local market at Rs20 per kg below the imported price that is very damaging for the local businessmen.
