Talking to media persons here on Sunday, he added that due to the imposition of sales tax had created serious hurdles for badges and other small industries. The exporters and manufacturers engaged with the badges industry were purchasing raw material form small sellers, which were not registered with sales tax department, Sadiq Goraya said.
He said that despite of these realities and hard facts the badges industry had been brought under sales tax net as a result of which the industry was confronting with serious problems. Sadiq Goraya cautioned that if the badges industry was not off the hook from the sales tax the industry will collapsed as a result of which thousand families engaged with it would become jobless.
Sadiq Goraya appealed to the federal commerce minister and other concerned authorities that immediate steps should be taken for shielding the badges industry from total collapse. On this occasion the former SCCI senior vice president lauded the trade policy 2004-2005 and said that the impact of the policy on export would be positive.
The textile industry had been announced many incentives in the trade policy for its promotion but other industries were ignored, he added. He suggested that government should adopt appropriate measures for bringing out the exporter community of Sialkot from multifarious problems confronting to it.
He said that mark-up rate of banks should be further minimised and the percentage of refinance loan scheme should be enhanced to 75 percent from 50 percent for the larger interest of the business community of the country. He said that small exporters should be allowed to hold industrial exhibition globally for accelerating the pace of export activities adding that Export Promotion Bureau of Pakistan (EPB) should provide 50 percent expenditures out of Export Development Fund (EDF).
He stressed upon the government to provide funds out of "Export Development Fund" for the construction of Sialkot International Airport Cargo terminal and setting up of "display centre at Sialkot on top priority basis. Sialkot, which is the only export-oriented city and hub of cottage industries of the country is earning US 700 million dollar annually through its export, he said.
Sadiq said the exporters of Sialkot have not only excelled in business but have initiated and completed many city development and peoples welfare projects including Sialkot city package, international airport and export processing zone projects etc.
Expressing his confidence, he said that government would take immediate steps for the redressal of the problems and release of sufficient funds for Sialkot international cargo terminal and display centre.