ICST patron says taxes will increase nutritional crisis, deter foreign investors
The Islamabad Chamber of Small Traders on Sunday asked the government to review taxes slapped on the dairy sector as it these result in widespread malnutrition and discourage foreign investors.
Government should not increase taxes on the dairy sector, rather it should get the status of zero-rated industry, said Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt.
In a statement issued sunday, he said that the new tax structure is complicated while additional taxes will hit infants the most as almost half of the child population in the country is already stunted.
He said that the officials who consider dry milk a luxury are doing a great disservice to the people of Pakistan.
Shahid Rasheed Butt said that 17 per cent tax on dairy inputs, and25 per cent regulatory duty on import of dry milk is simply unacceptable as importers are already paying 20 per cent customs duty on milk imports.
He said that the budgetary measures have already deterred a European multinational which had planned to invest $500 million in Pakistan in the initial stage and the company was planning to invest more at a later stage.
He said that the government has already given too many relaxations to the agricultural sector in the budget and therefore it shouldn’t compromise on the interests of the masses to please the tax-exempted landed elite which have a clear majority in the National Assembly.