BMG & KCCI Demand Govt To Revisit Mini-Budget

Web Desk — The Businessmen Group (BMG) and the Karachi Chamber of Commerce and Industry (KCCI) have demanded that the government should take the stakeholders on board before implementing the Finance (Supplementary) Bill 2021.

They noted that the sales tax rate under the Eighth Schedule on branded and packaged milk and dairy products had been increased from 10 per cent to 17pc, which would put an additional burden on consumers.

They said that the imposition of a 17pc tax on flavoured milk should be revised as it was a health drink for children.

Sales tax on raw material used for manufacturing pharmaceuticals would also have a negative impact and the prices of drugs would surely increase as the impact would be passed on to retailers, they said.

They said imposing a 17pc sales tax on household sewing machines, mostly used by self-employed women who work from home to earn a living, was extremely unjust. They also feared that a 17pc sales tax on oilseeds for sowing would prove counterproductive and discourage local production of edible oil.

BMG and KCCI leaders said that 17pc sales tax on export processing zones was undoubtedly a conspiracy to destroy the activities in these zones. Clause 8 of serial number 102 of the Amendment Bill must immediately be withdrawn and the original status of the export processing zones must continue, they demanded.