Taxing Industry In Tribal Areas To Damage Industrialisation
Faizan Hashmi Published June 20, 2019 | 07:02 PM
President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said imposing federal excise duty (FED) on the industrial units located in erstwhile FATA and PATA is against the national interests
ISLAMABAD, (UrduPoint / Pakistan Point News - 20th June, 2019) President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said imposing Federal excise duty (FED) on the industrial units located in erstwhile FATA and PATA is against the national interests.Talking to the business community, on Thursday the business leader said that the government has decided to impose FED on steel, ghee, and some other industries in tribal areas which will lead to their closure, he said.Mian Zahid Hussain said that the move will have very serious consequences for FATA, PATA and rest of the country therefore it should be taken back without any delay.He said that the government has reversed the SRO 1212(1)/208 which has threatened investments in FATA and PATA; it will deter further investments and stoke unemployment which may fan agitation and extremism.
The former minister noted that the area has already suffered a lot due to terrorism and such a move which is against the promise of the government may forestall the peace efforts that were at a heavy price of thousands of lives and billions of Dollars of resources.Now the enemy national have started another movement in the restive areas which is becoming a threat to the country which should not be countered by military means only but economic tools must be employed to get desired results.Those areas who were exempted from federal taxes should remain exempted according to a decision in which exemption was extended until 30th June, 2023.He noted that at one hand the government has proposed to allocate Rs152 billion for the development of Erstwhile FATA while on the other hand, it is hampering economic growth in these areas which is beyond understanding.
Recent Stories
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
More Stories From Business
-
EXCHANGE RATES FOR CURRENCY NOTES
44 minutes ago -
Foreign exchange rates
1 hour ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
2 hours ago -
Today Gold Rate in Pakistan 25 April 2024
3 hours ago -
Meta profits soar but costs of AI cause worry
4 hours ago -
Mired in crisis, Boeing reports another loss
12 hours ago
-
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
12 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
13 hours ago -
European stocks lose momentum after global rally
13 hours ago -
New pulses varieties imperative to cater domestic food requirements: Dr Khalid Hasan
14 hours ago -
CEO KP-EZDMC meets CRBC officials
14 hours ago -
Pakistan among nine poor countries that produces 90 percent cigarettes for world
15 hours ago