Karachi: The North Karachi Association of Trade and Industry (NKATI) recently appealed to Prime Minister (PM) Imran Khan to provide relief to exporters in light of the economic issues caused by the ongoing coronavirus pandemic — according to a news source. NKATI Patron-in-chief Captain A. Moiz Khan and President Naseem Akhtar called on the government to abolish the sales tax and other additional taxes for the export-oriented sector.
Reportedly, this move will allow for greater exports, and help revive the industries without further financial challenges. The association further recommended that SRO 1125 should be revived for the five sectors that were previously zero-rated in order to provide them a no-tax, no-refund facility. This will allow the industries to reduce the cost of production, and compete in international markets.
In addition, the association members also felt that considering the slow state of the international market and the strained relationship between the US and China, Pakistan could capture larger chunk of the global market if the right steps were taken.
