Duty increase will discourage imports: Naseeb Ahmed.

Former Executive Committee Member LCCI, Chairman Halal Meat Processors and Exporters Association of Pakistan, Convener Standing Committee on Halal Food Export and Import LCCI, National Expert for Halal Food Industry Naseeb Ahmed Saifi while talking to media said that it seems that the decision to increase the duty was taken to discourage imports so as not to increase the current account deficit but unfortunately the stakeholders were not taken on board in which confusions may be creates.

Naseeb Ahmed Saifi said that the economic problems facing the country were on the rise and there was a danger of creating a shortage of all the basic necessities and then there will be an increase in inflation. He said that raw materials imported for industrial use should continue without any hindrance to ensure increased production, higher exports and supply of imports substitutes.

While rising inflation, heavy subsides to mitigate the effect of rising international prices of petroleum products and other poorly performing economic indicators are also a source of concern for the business and industrial community which can be catastrophic if not handled promptly and carefully. Now is the time for the government to make difficult decisions while dealing with political crises on a war footing because they are a major factor in shaking the confidence of local and foreign investor. He said that as Pakistan was going through a very critical period, therefore, everyone must forget their political differences for the time being and give priority to the economic and financial crises facing the country and measures that are in the wider interest of the country will have to be implemented on a priority basis.

Naseeb Ahmed Saifi said that large sums of foreign exchange earned legally by Pakistanis living abroad were still standing outside the country therefore, such foreign remittances will have to be repatriated with full tax exemption. Overseas patriotic Pakistanis need to be provided full incentive, incentives and facilities to send remittances to Pakistan. He said that the government needs to create a conducive environment so that Pakistanis abroad can transfer money to Pakistan with confidence. He said that it was time to fulfill our mutual responsibilities and work together for the country's economy and development.

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