Small Industry On The Brink Of Collapse

Preferential laws have sent the small businesses on the brink of collapse.Due to negligence of government 1m peoples are going to jobless in next one year

Islamabad (UrduPoint / Pakistan Point News - 25th March, 2019) Preferential laws have sent the small businesses on the brink of collapse.Due to negligence of government 1m peoples are going to jobless in next one year.According to details, despite the small industrialist paying 22 pc more tax than large industries, the 600 units of small businesses are going to be shutdown.The reason for preferential law is an SRO due to which the large scale steel industry can take the benefit, and the three big guns of industries can take Rs19000 waiver on per ton of steel while the small industries have to pay 11 pc custom duty, 2 pc additional customs duty, and RD tax 12.

5 pc, in this way the small industrialist paying 27 pc on each ton a steel.It is pertinent to mention that the large industry import 80 more steel while the small industry only 20 pc but paying more tax, in this way the large industry earn billions of rupees by not paying the tax.Chairman Steel Pipeline Association, Khalid Jahangir Butt has condemned the un equal tax deduction and appealed the government to repeal the illegal SRO.