LAHORE : Lahore Chamber of Commerce & Industry Vice President Faheem-ur-Rehman Saigal has urged the government to resolve the issues being faced by the artificial leather industry. Talking to a delegation of Pakistan Leather Importers & Merchants Association on Saturday, he said that role of artificial leather industry in revenue generation and employment was of utmost importance.

The delegation comprising Talat Butt, Tariq Latif, Muhammad Ishaq, Saad-ur-Rehman and Jannat Mir discussed the issues of SRO 1125, valuation of invoices, surge in dollar prices, sales tax and duty rates and informed the LCCI VP that custom duty was more than double after withdrawal of SRO 1125 and implementation of sales tax. “It is almost impossible to continue businesses”, the delegation said.

They demanded reduction in duty rate on raw materials and to control rupee devaluation saying that these issues have multiplied the input cost. Faheem-ur-Rehman Saigal said that 17% sales tax and increase in income tax from 1% to 6% would result in rise in cost of doing business that would ultimately decrease exports. He said that government should get rid of discrimination between trade and industry. He feared that rise in duty and requirement of CNIC number for the buyer would encourage smuggling. He said that these issues must be resolved at the earliest.