Industry protests over 20% additional ST on electricity

Industry protests over 20% additional ST on electricity

KARACHI: Industry has strongly protested over imposition of 20 per cent additional sales tax on supply of electricity and said it will destroy the industrial activities and result in mass unemployment.

Faisal Moiz Khan, President, North Karachi Association of Trade & Industry (NKATI) in a statement on Saturday expressed deep concerns over the imposition of 20 per cent additional sales tax on electricity bills by K-Electric and by strongly protested.

He demanded the government to withdraw the increase immediately and K-Electric should be stopped from looting the industrial community.

The imposition of additional taxes on electricity will lead to destruction and a flood of unemployment.

In a statement, NKATI president said that 20 per cent additional sales tax has been levied on the electricity bills sent to industries by K-Electric.

While KE is already levying 17 per cent sales tax on electricity bills, so there is no justification for imposing an additional 20 per cent sales tax.

“Forcible collection of additional sales tax from registered consumers in sales tax is a total injustice which will increase the cost of production immensely. Which will have a very bad effect on the country’s exports and industrial production activities”, he said.

Faisal Moiz Khan demanded the government to take notice of the imposition of 20% additional sales tax on electricity bills by K-Electric and withdraw this decision immediately and provide a conducive business and industrial environment in line with Prime Minister Imran Khan’s vision of making it easier to do business and run industries. Otherwise, it will be impossible for industrialists to run their own factories

NKATI president further said that if the government wants industries to flourish and create more employment opportunities, then anti-business and anti-industrial measures must be avoided, so that the domestic industries can get back on their feet in the face of the dire economic situation due to COVID-19 pandemic.

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