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PTBA for waiving demurrages, detention charges, extending free time

PTBA for waiving demurrages, detention charges, extending free time

LAHORE: Pakistan Tax Bar Association (PTBA) president Aftab Nagra, Qari Habibur Rehman Zubari and other office bearers have urged the government to bring down rate of taxes, interest rate to 5 percent and extend demurrages and detention free time.

They said that COVID-19 has played havoc with the world economy and every country has suffered losses. They said that in such condition single tax rate and lower interest rate to 5 percent is inevitable. They said that Pakistan economic condition is already passing through tough time and now that pandemic has erupted, the economy has come to a grinding halt.

They said that the government should come forward to play its role by assisting business community in shape of offering soft loans, waivers of utility bills and demurages and detention charges. They said that this high time to take business community as to how to come out of the crisis simultaneously making recoveries and combating the pandemic.

They said that opening of the business should be considered but not at the cost of people and strict SOPs should be adopted. They also said that the continuation of lockdown is no way forward for the economy, adding that ‘systematically we should fight with Coronavirus saving our people from the bad effects of the pandemic’.

Talking about the import business they said that the private shipping lines have not extended free demurages and detention days which is destroying the import business in the country. The private shipping lines and terminals should be bridled as they have rejected the directions of even government functionaries including Federal Board of Revenue.

They said that the PM should take stern notice of the disobedience of the private terminals and shipping lines. They said post-Corona situation will not be simple but challenging, and trade and industry should be provided with relief so they can better come out of the worst ever crisis.