Expert slams new taxes on poultry inputs
Says taxes, duties would adversely impact protein-starved masses
Says taxes, duties would adversely impact protein-starved masses. PHOTO: AFP/FILE
LAHORE:
A poultry expert and a veteran of the industry has urged the finance minister to withdraw 15% import duty on grandparent stock and 10% duty and 10% sales tax on soybean.
Both components are termed as vital inputs for broiler chicken. Grandparent stock is used to breed parent stock, which in turn spawns broiler chicken. Similarly, soybean constitutes a major ingredient for the diet of broiler chickens.
A 15% import levy on grandparent stock in conjunction with a near 20% increase in a major component of broiler chicken diet could mean a massive spike in poultry prices.
Former Pakistan Poultry Association chairman Abdul Basit warned that the increase in poultry prices would have a devastating effect on the masses that are already deprived of cheap sources of protein. The new budget was already being criticised for introducing unnecessary new taxes, anti-business cess and hiding the true inflation figures. As oil prices recover, inflation is predicted to pick up pace and take its toll on the public. The effect on poultry sector is no exception.
The poultry veteran went on to remind the government that poultry was one of the largest industries of the country and, along with being a major contributor to the national exchequer, provides employment to the millions of workers. He said that imposition of duty on raw materials would badly affect the poultry industry.
Taking a jab at the government’s inability to widen the tax net, with a big chunk of filers having fallen off the radar, he said that it was very unfortunate that existing taxpayers are being burdened.
Basit said that at a time when poultry industry was looking for a relief package, it was being pushed to the brink.
He urged Dar to give similar facilities to the poultry industry as were given to the agriculture sector.
Published in The Express Tribune, June 9th, 2016.
A poultry expert and a veteran of the industry has urged the finance minister to withdraw 15% import duty on grandparent stock and 10% duty and 10% sales tax on soybean.
Both components are termed as vital inputs for broiler chicken. Grandparent stock is used to breed parent stock, which in turn spawns broiler chicken. Similarly, soybean constitutes a major ingredient for the diet of broiler chickens.
A 15% import levy on grandparent stock in conjunction with a near 20% increase in a major component of broiler chicken diet could mean a massive spike in poultry prices.
Former Pakistan Poultry Association chairman Abdul Basit warned that the increase in poultry prices would have a devastating effect on the masses that are already deprived of cheap sources of protein. The new budget was already being criticised for introducing unnecessary new taxes, anti-business cess and hiding the true inflation figures. As oil prices recover, inflation is predicted to pick up pace and take its toll on the public. The effect on poultry sector is no exception.
The poultry veteran went on to remind the government that poultry was one of the largest industries of the country and, along with being a major contributor to the national exchequer, provides employment to the millions of workers. He said that imposition of duty on raw materials would badly affect the poultry industry.
Taking a jab at the government’s inability to widen the tax net, with a big chunk of filers having fallen off the radar, he said that it was very unfortunate that existing taxpayers are being burdened.
Basit said that at a time when poultry industry was looking for a relief package, it was being pushed to the brink.
He urged Dar to give similar facilities to the poultry industry as were given to the agriculture sector.
Published in The Express Tribune, June 9th, 2016.