Friday, May 30, 2025
No Result
View All Result
The AZB More Than Just News
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION
No Result
View All Result
Daily The Azb
No Result
View All Result
Home Headline

Petro price hike to result in inflation, hit exports: Mian Zahid Hussain

News Desk
June 29, 2020
Petro price hike
Share on FacebookShare on Twitter

KARACHI – President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, FPCCI’s Businessmen Panel Sr. Vice Chairman, and former provincial minister Mian Zahid Hussain on Monday said continued economic downfall since two years and virus has damaged all the sectors of the economy including commercial importers who are expecting some kind of relief. 

Imports have been made difficult for the businessmen which is resulting in a shortage of raw material for pharma, textile, chemical, steel, scrap and may other sectors, therefore their problems should be resolved. 

Mian Zahid Hussain said that industrial raw material is now regarded as finished goods to attract additional tax at import stage which is unjustified and indifferent attitude. 

Talking to the business community, the veteran business leader said that the fixed tax regime should be restored for commercial importers otherwise, this sector will collapse creating unresolvable problems.

The former minister noted that many commercial importers have gone bankrupt while others are on the brink while they are facing serious liquidity problems as their capital is stuck locally and abroad due to pandemic. 

He said that commercial importers should be given interest and collateral-free loans up to five million rupees so that they can revive their businesses and play due role in national development. The business leader noted that apart from the manufacturing sector, the export sector is also facing a shortage of raw material which can hit exports and result in unemployment. 

The NIC condition has damaged businesses beyond estimates, therefore it should be waived for all sectors including commercial importers, audit should be deferred for one year and the old taxation system for fertilizer distributors and dealers should be restored, he demanded. The condition to deposit 10 percent money in advance before filing an appeal should also be abolished, he said, adding that unprecedented hike in petroleum products will trigger inflation and unemployment and damage the export sector.

News Desk

News Desk

Welcome to our web desk! We're a dedicated team of digital enthusiasts passionate about delivering timely and engaging content to our online audience.

Related Posts

CBD PUNJAB BRINGS STRATEGIC INVESTMENT OPPORTUNITY WITH NSIT RESIDENCIA AUCTION
Business

CBD PUNJAB BRINGS STRATEGIC INVESTMENT OPPORTUNITY WITH NSIT RESIDENCIA AUCTION

May 30, 2025
The modernization of Pakistan’s maritime industry and the expansion of its blue economy
Business

The modernization of Pakistan’s maritime industry and the expansion of its blue economy

May 30, 2025
CCP holds awareness session on Competition Law for IIUI students
Business

CCP holds awareness session on Competition Law for IIUI students

May 30, 2025
TCL and Arsenal Announce Global Partnership Expansion in Multi-Year Deal
Headline

TCL and Arsenal Announce Global Partnership Expansion in Multi-Year Deal

May 30, 2025
Pakistani Fodder Trade Delegation Strengthens Bilateral Ties with Qatar
Business

Pakistani Fodder Trade Delegation Strengthens Bilateral Ties with Qatar

May 30, 2025
Federal Minister for Petroleum Visits PARCO Headquarters, Reviews its Strategic Vision and Operational Excellence
Business

Federal Minister for Petroleum Visits PARCO Headquarters, Reviews its Strategic Vision and Operational Excellence

May 30, 2025
SECP Concludes Day 1 of Mutual Fund Focus Group Sessions 2025 with Expert-Led Discussions on Industry Reforms and Innovation
Business

SECP Proposes Regulatory Framework for Algorithmic Trading in Pakistan

May 30, 2025
National Consultative Meeting Crafts a Bold Pathway Toward a Unified Food Security and Nutrition Research Agenda for Pakistan
Business

National Consultative Meeting Crafts a Bold Pathway Toward a Unified Food Security and Nutrition Research Agenda for Pakistan

May 30, 2025
Farooq Naseem, Chairman & CEO DWP Group, Inspires Future Leaders at UMT
Business

Farooq Naseem, Chairman & CEO DWP Group, Inspires Future Leaders at UMT

May 30, 2025
GAIN Advances Food Systems Transformation through Academic Capacity Building in Pakistan
Business

GAIN Advances Food Systems Transformation through Academic Capacity Building in Pakistan

May 30, 2025
Next Post
Chal

Groove to the tunes of Taha-G's new song Chal!.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Most Popular

Another leak: TikToker Somal Mohsin’s private videos go viral

Aga Khan University Celebrates Student Innovation at Concluding Ceremony of President’s Challenge for Climate Solutions

We will live with Covid19 for months. Let’s not deny it or panic: Dr. Faheem Younus

PHDEC’s Mango Bagging Initiative Boosts Export Opportunities in Jalalpur, Multan

Burhan Mirza IT Investor: His Role in Pakistan’s Tech Industry

Must Read

Noman Ijaz’s video message from ‘Janat’
Headline

Noman Ijaz’s video message from ‘Janat’

May 22, 2022
Pakistan’s most Extensive Cardiometabolic Study for the Healthy Young Population
Headline

Pakistan’s most Extensive Cardiometabolic Study for the Healthy Young Population

November 23, 2021
The Azb is a 24/7 online news platform that covers a wide range of topics including business, economics, technology, finance, travel, fashion, and lifestyle.

Quick Links

  • Home
  • About us
  • SCI-TECH
  • Live TV
  • Banking

Useful Links

  • Videos
  • Reviews
  • Advertorial
  • Photos
  • About us
  • Author
  • Home
  • Latest News
  • Partner
  • Privacy Policy
  • Russian Theatre Group Celebrates Fifth Anniversary in Pakistan.
  • Terms and Conditions
  • The Azb – More Than Just News
  • Contact

© Copyright 2024 theazb. All Rights Reserved.

No Result
View All Result
  • HOME
  • Latest News
  • Business
  • PAKISTAN
  • SPORTS
  • WORLD
  • E-Paper
  • SCI-TECH
  • BANKING
  • ARTICLES
  • OPINION
  • MORE
    • MOBILE
    • TELECOM
    • PERSONALITY
    • HEALTH / EDUCATION

© Copyright 2024 theazb. All Rights Reserved.