close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
June 13, 2019

Zero-rating facility removal slammed

Business

June 13, 2019

KARACHI: The North Karachi Association of Trade Industry (NAKTI) has slammed the withdrawal of zero-rating regime for five exporting sectors and imposition of 17 percent sales tax under the federal budget 2019-20, terming the two destructive for the industries.

Officials of the association, in a statement on Wednesday, demanded the government to restore the export tax facility and axe the SRO 1125 decision to maintain a business-friendly environment.

NKATI leaders said eliminating the sales tax waiver for export industries would increase the production cost up to inconceivable levels, and the consumers would have to face the consequences as well, especially since utility charges have increased as well. Imposition of 17 percent sales tax by the government would be unviable and many of the small- and medium-sized exporters would be wiped out, the statement said.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus