RCCI For Rationalization Of Taxation To Control Food Inflation

Rawalpindi Chamber of Commerce and Industry (RCCI) Wednesday urged the Federal Board of Revenue (FBR) to introduce rationalization of taxation and called upon the government to withdraw all taxes and duties on food items to mitigate the surge in food inflation

RAWALPINDI, (UrduPoint / Pakistan Point News - 20th Oct, 2021 ) :Rawalpindi Chamber of Commerce and Industry (RCCI) Wednesday urged the Federal board of Revenue (FBR) to introduce rationalization of taxation and called upon the government to withdraw all taxes and duties on food items to mitigate the surge in food inflation.

RCCI President Nadeem Rauf, in a statement, said if taxes, customs duty, FED, adjusted sales tax and income tax were withdrawn on edible oil, there would be a downward balancing effect on the overall food inflation.

He also urged the government to lower taxes on the import of raw materials being used to manufacture medicines to the people at affordable rates.

The RCCI also requested the government to bring down taxes and duties on the import of commodities.

Furthermore, the import of petroleum products puts additional pressure on the Dollar and trade deficit, so it was suggested to lower the taxes and levy on petroleum oil lubricants, which would reduce the transportation cost, he added.