KARACHI: The Salt Manufacturers Association Pakistan (SMAP) has welcomed the newly elected government with hopes for policy reforms that could boost the salt trade sector, which has been hampered by a trade ban with India and high import taxes.
Qasim Yaqoob Paracha, chairman of SMAP, said the salt trade has faced numerous challenges over the years, impeding its smooth operation and impacting various stakeholders involved in the industry.
"One significant challenge has been the ban on trade with India, resulting in decreased revenue for salt manufacturers in Pakistan, disrupted trade routes, and decreased overall profitability in the salt trade sector," Paracha said in a statement.
Additionally, high taxes on salt materials imported from abroad have further strained salt manufacturers financially, significantly increasing production costs and hindering competitiveness in the global market, he added.
“The challenges faced by the salt trade industry are multifaceted and require immediate attention and concerted efforts from both the government and industry stakeholders. By lifting the ban on trade with India and reducing taxes on imported salt materials, the government can play a pivotal role in revitalizing the salt trade sector, fostering economic growth, and creating job opportunities for our people."
The statement said the SMAP firmly believes that addressing these challenges requires collaborative efforts between the government and industry stakeholders. "Through constructive dialogue and effective policy implementation, comprehensive solutions can be devised to revitalize the salt trade sector and unlock its full potential."