Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has requested the government not to withdraw the zero-rating facility currently offered to the export industry, a news source reported.
FPCCI President Engineer Daroo Khan Achakzai expressed his views on the matter in a joint statement that included remarks of Former President FPCCI M. Muneer and Senior Vice President SAARC-CCI Iftikhar Ali Malik.
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The participants expressed their concerns over the speculation pertaining to the withdrawal of zero-rating facility for five key exports sector in the upcoming budget.
They said that the withdrawal of zero-rating facility to the sector including value-added textile, leather, carpet, surgical instruments, and sports goods will led to a decline in the country’s exports industry.
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These five sectors collectively make 70 percent of their earning from exports, and significantly contribute to foreign exchange, as well as generate employment opportunities for skilled and unskilled labour force.