Govt Urged to Withdraw Condition of Printing Retail Price on Imported Items
LAHORE– The Lahore Chamber of Commerce & Industry (LCCI) Standing Committee on FMCG has urged the government to withdraw the condition of printing retail price on imported items as price in local market cannot be calculated before import of any item.
The demand was raised by the committee in a meeting held here the other day which was chaired by its head Irfan Iqbal Sheikh while its Co-Convener Ali Tariq Matto and Deputy Convener Muhammad Ejaz Tanveer was also present.
Participants of the meeting said that volatility in the price of dollar on daily basis, customs and import duties, transportation and other over-heads are included while working out price of any imported item.
They were of the view that final calculation of all these factors before physical import was not possible, so price could not be printed while manufacturing and packaging of these items.
The meeting also discussed various taxation measures taken by the government including imposing condition of having CNIC number on purchase of Rs 50,000. The meeting was disappointed to note that the present government had not introduced any relief measure for the business community contrary to its election promises.
The meeting urged the government to take business community in to confidence before taking any policy or taxation measures. It said that such measures should be introduced which not only increase revenue for the government but also accelerate business activities.— PRESS RELEASE