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August 1, 2016

Small traders express concern over heavy taxation on dairy industry

National

August 1, 2016

ISLAMABAD: The Islamabad Chamber of Small Traders on Sunday expressed serious concern over heavy taxation on local dairy industry and imported milk, which has resulted in hike in the price of packed milk twice in a short span.

It asked the government to review the taxes and take note of the situation as it will hit health of masses, especially babies, half of whom are already underfed.Talking to Tabassum Anwar, Chairperson of IWCCI Standing Committee on Trade and Industry, he said that prices of sugar have also been increased, which is unjustified.

He said the government has imposed 20 percent customs duty and 25 percent regulatory duty on import of milk powder to please the elite class, keeping in view the upcoming elections. Shahid Rasheed Butt said the decision was unacceptable as masses should not pay the cost of ambitions of the political elite.

He said the EU has given trade relaxations to Pakistan while our policymakers have returned the favour by imposing additional taxes on their exports, which may compel them to change their mind and that will further damage dwindling exports.

Additional taxes have also pushed the local dairy sector into a crisis, which has increased the cost of doing business. He noted that the revenue measures will result in around 30 percent fall in the demand of milk hitting masses and the people linked to this business.

Pakistan is the third largest milk producer in the world producing around 55 million tonnes of milk, production is increasing by four percent per year while the demand is increasing 15 percent annually.

Pakistan exports skimmed and fresh milk while it also imports 40,000 tonnes of milk, mainly from India, which is equal to 320,000 tonnes of fresh milk, he informed.The global milk demand is set to increase by 36 percent in nine years, which can be an opportunity for Pakistan.

 

 

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