Karachi:
The local cotton industry has demanded the restoration of industries and a reduction in heavy industrial taxes instead of allocating billions of rupees in the name of “aid” in the new fiscal year’s federal budget.
Implementation of this demand will not only improve business but also make the doors of employment open for people due to the survival of the industries.
Chairman Cotton Generals Forum Ehsanul Haq said that in the Federal Budget, the Benazir Income Support Program allocates a huge amount of more than Rs 600 billion every year, while the provincial governments also allocate billions of rupees in their own Bajites on an annual basis.
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Due to the logic of the budget makers, the country has been boosting charity instead of business for the past several years, but on the contrary, due to financial crisis and unprofessional policies, hundreds of industrial units, including 800 ginning factories and 150 textile mills, are completely inadequate and many hundreds of industries are inadvertently inadequate.
He suggested to the federal and provincial governments that instead of allocating billions of rupees annually in the name of various charitable schemes, they should spend the money on the development of industries, especially more than 70 % of the sales tax on the cotton jinning sector, with a significant reduction in the industry.
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Could play its role in increasing gross national production and economic growth. He said it was reported that the new federal budget on the appeal of the Optima and Generals Association is expected to make a positive decision regarding the Export Facility Scheme, if the Export Facility Scheme in the new federal budget is abolished in this country.
