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Tuesday April 16, 2024

Three demands of powerloom industry accepted

By our correspondents
November 17, 2017

FAISALABAD: Income Tax Commissioner Chaudhry M Akram has accepted the three major demands of the powerloom industry, including zero rated income tax on electricity bills, exemption of tax audit for three years and increase in present turn-over tax limit from rupees 10 million to Rs50 million. He said the powerloom sector was the backbone of the national economy which was providing jobs to millions, hence they deserve these concessions. He assured that other bottlenecks which were creating hurdles in the smooth running of the powerloom industry would be removed remaining within the domain of Income Tax. The Cotton Powerloom Association (CPLA) delegation paid a vote of thanks to the commissioner for resolution of their main problems.