Packaging sector seeks industry status
The government has announced taxing the inputs of the dairy sector at 17% standard rate by withdrawing the zero rating regime. PHOTO: packagingdesignmag
The packaging sector is the backbone of all industries and the government should grant industry status to it in order to reap maximum benefits, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Management Committee Regional Chairman Punjab Muhammad Nadeem Qureshi.
Talking to representatives of the All Pakistan Corrugated Cartons Manufacturers Association at the FPCCI regional office on Tuesday, Qureshi stressed that the corrugated cartons manufacturing sector held significant importance in all industries.
Elaborating, he said that the widespread popularity of online businesses and e-commerce had increased the importance and value of corrugated cartons sector.
“Corrugated cartons are the first choice for many product and service businesses due to their efficiency, durability and dependability,” he remarked.
Referring to the prime minister’s third amnesty scheme, Qureshi underlined that Pakistani industrialists could invest in the country’s manufacturing sector and set up new units at 5% tax rate without any fear of investigation into the source of investment.
Regarding the federal budget for fiscal year 2022-23, he said that the business community should also focus on the budget as “it is the right time for the submission of pre-budget proposals to negotiate with the government”.
He pointed out that it would be difficult to negotiate once the federal budget was ready.
The small and medium enterprise (SME) sector was the backbone of the economy and it contributed immensely to uplifting the industries and creating employment opportunities, he said.
The SME sector “only requires exposure to export its products and once it is achieved, Pakistan’s balance of trade will improve”, he added.
On the occasion, the senior management of the association urged the FPCCI to play its role in achieving industry status for the packaging sector.
Qureshi assured the sector of the chamber’s full cooperation in solving the problems.
Published in The Express Tribune, March 9th, 2022.
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