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KARACHI: European Union (EU) has given approval for economic package to Pakistan, but it apparently looks that country is unlikely to get this package due to strong opposition from India, the chairman Senate Committee on Finance, Senator Ali Ahmed said on Tuesday.
Addressing a luncheon meeting at North Karachi Industrial Development Company (NKIDC) at North Karachi Association Trade and Industry, Ahmed Ali said that EU has informed that Pakistan may not be benefited with the EU package as India has strongly raised this issue at WTO and India has refused to take its stance back so that WTO would not allow a green signal to the package.
Ahmed said that his party would not allow government to impose 17 percent GST in the forthcoming budget and it may be somewhere from 15 to 16 percent. He made it clear that refunds to exporters on various heads may not be cleared before budget, however, this issue would be taken up with the government seriously as huge amounts of exporters have been tied up.
He pointed out that in case of delay in refunds, the government is liable to pay 6 percent interest to the exporters but it never paid this too. Ahmed said that North Karachi Industrial Area is contributing significantly to the national exchequer in taxes and levies and it was its due right to get development funds to the tune of at least Rs 500 million.
He asked the NKIDC CEO, Syed Usman Ali to refer this case to him and he, along with Senator Abdul Haseeb Khan, will take up this matter with the government in Islamabad and get the funds released to the North Karachi Industrial Area.
He praised the NKIDC for accomplishing some developmental projects in the area and urged the government to release funds for the incomplete projects. He said that doing business is not governments job and that is why the organisations like Pakistan Steel, PIA, Pakistan Railways and number of other public sector units are on the verge of collapsewhich should be handed over to the private sector.
He further said that stakeholders can do better than EOBI and SESSI and that these departments should be disbanded.
Senator Abdul Haseeb Khan said on this occasion that he is voice of trade and industry in the Senate and all stakeholders should get united and apprise him of their issues so that they could be taken up at higher level in Islamabad. He assured the North Karachis industrialists to get the tied-up funds amounting to Rs 250 million released soon so that projects could be completed in the area.
The CEO NKICD, Syed Usman Ali said that developmental projects were initiated by the NKICD and a number of projects were accomplished. He however said that Rs 250 million have been tied up with the governmentwhich should be released immediately to complete the developmental work in the area.
Daily Times - Leading News Resource of Pakistan
Addressing a luncheon meeting at North Karachi Industrial Development Company (NKIDC) at North Karachi Association Trade and Industry, Ahmed Ali said that EU has informed that Pakistan may not be benefited with the EU package as India has strongly raised this issue at WTO and India has refused to take its stance back so that WTO would not allow a green signal to the package.
Ahmed said that his party would not allow government to impose 17 percent GST in the forthcoming budget and it may be somewhere from 15 to 16 percent. He made it clear that refunds to exporters on various heads may not be cleared before budget, however, this issue would be taken up with the government seriously as huge amounts of exporters have been tied up.
He pointed out that in case of delay in refunds, the government is liable to pay 6 percent interest to the exporters but it never paid this too. Ahmed said that North Karachi Industrial Area is contributing significantly to the national exchequer in taxes and levies and it was its due right to get development funds to the tune of at least Rs 500 million.
He asked the NKIDC CEO, Syed Usman Ali to refer this case to him and he, along with Senator Abdul Haseeb Khan, will take up this matter with the government in Islamabad and get the funds released to the North Karachi Industrial Area.
He praised the NKIDC for accomplishing some developmental projects in the area and urged the government to release funds for the incomplete projects. He said that doing business is not governments job and that is why the organisations like Pakistan Steel, PIA, Pakistan Railways and number of other public sector units are on the verge of collapsewhich should be handed over to the private sector.
He further said that stakeholders can do better than EOBI and SESSI and that these departments should be disbanded.
Senator Abdul Haseeb Khan said on this occasion that he is voice of trade and industry in the Senate and all stakeholders should get united and apprise him of their issues so that they could be taken up at higher level in Islamabad. He assured the North Karachis industrialists to get the tied-up funds amounting to Rs 250 million released soon so that projects could be completed in the area.
The CEO NKICD, Syed Usman Ali said that developmental projects were initiated by the NKICD and a number of projects were accomplished. He however said that Rs 250 million have been tied up with the governmentwhich should be released immediately to complete the developmental work in the area.
Daily Times - Leading News Resource of Pakistan
