No incentives for fisheries exporters

No incentives for fisheries exporters

KARACHI: Pakistan Fisheries Exporters Association Chairman Muslim Mohammadi has said the budget 2016-2017 has not provided any relief to fish processing and export industry.

He said the government has given zero rating basis to sectors, like textiles, sports, leather and surgical goods, but ignored fisheries sector whose exports are declining due to weak prices in international market as well as drop in landing of fish.

Muslim urged Finance Minister Ishaq Dar to declare zero-rating for seafood exports and help revive ailing industry.

He also demanded that all seafood processing machinery be exempted from any import duties so that value-addition plants be imported and exporters make products according to world class standards. It would help enhance exports.

Exports of fish and fish preparations during July-April 2015-2016 plunged to 105,839 units ($271 million) as compared to 111,861 tonnes ($287 million) in same period of last fiscal year.

He also urged the government to reduce withholding tax on exports to 0.5 per cent from one per cent.

However, the government has given concessions of customs duty for fish farming in Budget 2016-2017.

Customs duty on import of fish feed pellet machines and water-aerators, be reduced from 5 to 2pc; fish feed is subject to 10pc customs duty whereas shrimp feed is at 20pc.

The duty on import of fish and shrimp feed is proposed to be exempted. Similarly, customs duty on live baby fish that is subject to 10pc is proposed to be removed.

“Budget anti-business’ In Lahore, the LPG Distributors Association Pakistan on Saturday termed the federal budget 2016-17 anti-business and criticised the PML-N led government for not giving any tax relief to LPG industry which provides service to a large segment of middle-class and poor.

At a press conference at the Lahore Press Club, the association’s Chairman, Irfan Khokhar, who was flanked by other office-bearers, told reporters that the association had briefed the prime minister, the petroleum minister and other relevant departments about the import of LPG and that prices may shoot up to Rs300 per kg in winter season because of Sui gas shortage and huge gap between demand and supply of LPG.

He, however, said that the government paid no heed to their proposals of exempting LPG import from advance tax and making import policy feasible.

Source: http://www.dawn.com/news/1262816/no-incentives-for-fisheries-exporters

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