RECORDER REPORT

KARACHI: Korangi Association of Trade and Industry’s (KATI) president Rashid Siddiqi on Friday urged the government to review its decision of imposing eight per cent withholding tax on turnover of the services sector as this exorbitant WHT would badly affect export industry.

He said that at a time when prices of gas been increased manifold and industries were being subjected to load-shading, the decision of levying eight per cent WHT on the turnover of services sector will create more problems for the industry in meeting the export targets.

He demanded of the government to resolve the matter at the earliest by taking all stakeholders into confidence.

He said that freight forwarders and air cargo agents’ protest was directly affecting exports and if the situation continued to persist, both the textile industry and the tannery sector would collapse.

He hoped that the government will resolve the issue amicably, or else it will badly affect exports and imports, besides creating unemployment issue in the country.