Pakistan’s government is being urged by The Lahore Chamber of Commerce and Industry (LCCI) to resolve the issues being faced by the artificial leather industry, according to a statement released on Saturday.
Talking to a delegation of Pakistan Leather Importers and Merchants Association, which visited the chamber, LCCI Vice-President Faheem-ur-Rehman Saigal said that the role of the artificial leather industry in the provision of revenue to the state and employment to the people is of utmost importance.
A reduction in the duty rate on raw materials was also demanded in an effort to control rupee devaluation, saying that these issues have multiplied the input cost. Saigal said that a 17% sales tax and increase in income tax from 1% to 6% would result in rise in the cost of doing business and a decline in exports.
The government should get rid of discrimination between trade and industry, he said, fearing that any rise in duty and the requirements of CNIC numbers for the buyer would encourage smuggling.