Looking forward: TDAP chief irked at high tax rate
Says currently taxes and duty on paper, raw material is 49%
Trade Development Authority of Pakistan (TDAP) Chief Executive S M Muneer inaugurating the Printpak Exhibition. PHOTO: fb.com/SwissConsulateKarachi
KARACHI:
Trade Development Authority of Pakistan (TDAP) Chief Executive S M Muneer has said that the government should consider reducing taxes on paper and raw material.
He said this while inaugurating the Printpak Exhibition here at the Expo Center Karachi.
“It is shocking that around 49% duty and taxes have been imposed on raw material, which is one of the highest in the world. This is hurting our industry and it will be addressed on priority basis. We will work towards supporting the value added industry,” Pakistan Association of Printing and Graphic Arts Industry (PAPGAI) quoted Muneer in a press release on Saturday.
Meanwhile, PAPGAI Chairman Muhammad Ismail Memon said the association has been organising the show for the last 25 years with the purpose to gather all stakeholders and industry players under one roof.
“Pakistan has a huge untapped potential as our per capita usage of paper is around 8 kg while in India it is around 12 kg,” he added.
The PAPGAI claims that the printing industry of Pakistan has a volume of around $5 billion and it is providing employment to millions.
He said per capita use of paper in Sri Lanka is 19 kg, in China 75kg and in United States of America it is around 229 kg.
While highlighting the issues of the industry, he said there are 51% taxes on paper and raw material of flexible packaging which pose a significant threat to the domestic industry as publishers look for foreign avenues to print books.
Published in The Express Tribune, November 22nd, 2015.
Trade Development Authority of Pakistan (TDAP) Chief Executive S M Muneer has said that the government should consider reducing taxes on paper and raw material.
He said this while inaugurating the Printpak Exhibition here at the Expo Center Karachi.
“It is shocking that around 49% duty and taxes have been imposed on raw material, which is one of the highest in the world. This is hurting our industry and it will be addressed on priority basis. We will work towards supporting the value added industry,” Pakistan Association of Printing and Graphic Arts Industry (PAPGAI) quoted Muneer in a press release on Saturday.
Meanwhile, PAPGAI Chairman Muhammad Ismail Memon said the association has been organising the show for the last 25 years with the purpose to gather all stakeholders and industry players under one roof.
“Pakistan has a huge untapped potential as our per capita usage of paper is around 8 kg while in India it is around 12 kg,” he added.
The PAPGAI claims that the printing industry of Pakistan has a volume of around $5 billion and it is providing employment to millions.
He said per capita use of paper in Sri Lanka is 19 kg, in China 75kg and in United States of America it is around 229 kg.
While highlighting the issues of the industry, he said there are 51% taxes on paper and raw material of flexible packaging which pose a significant threat to the domestic industry as publishers look for foreign avenues to print books.
Published in The Express Tribune, November 22nd, 2015.