Plastic industry: Smuggling causing huge losses

The urgent need for action was raised by LCCI President while talking to a delegation of the plastic industry

LAHORE:

In a bid to salvage the struggling plastic industry, the Lahore Chamber of Commerce and Industry (LCCI) has demanded that the government must take stringent measures to take action against smuggling of plastic raw material and finished goods from Iran.

The urgent need for action was raised by LCCI President Sheikh Muhammad Arshad while talking to a delegation of the plastic industry.

Arshad said the plastic industry is the third largest source of government revenue, therefore, the authorities should establish a cluster for the sector.

Additionally, he demanded that the Federal Board of Revenue reduce the sales tax on plastic products.

“This would discourage smuggling as a whole and also the sale/trade of smuggled raw material and finished products which cost Rs50-60 billion to the exchequer.”

Published in The Express Tribune, October 22^nd, 2015.

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