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DTMA fears that harsh new regulations might boost unregistered dealers

By H. Hasan

KARACHI: In a much awaited meeting the Prime Minister Imran Khan rejected the traders’ demand of withdrawing CNIC condition for sale and purchase activities.

He reiterated that in Naya Pakistan trading activities would no longer run on old pattern.

The business community expressed its disappointment after listening to the prime minister’s views which were also seconded by Economic Adviser to PM, Dr Abdul Hafeez Sheikh and Chairman Federal Board of Revenue (FBR) Shabbar Zaidi.

CNIC condition seems to be the biggest issue confronting the industry coupled with some other proposals.

Dental Trade and Manufacturers Association DTMA, Liaqat Ali Humayun while talking to Dental News,  expressed his concern about the new regulations and also discussed issues related to budget anomalies under which duty impact has increased, while additional custom duty on imports was raised from 2-4pc. The CNIC condition is a cause for concern.

If CNIC of people is misused, who will be held responsible, just like 100’s of sims issued on people CNIC without their knowledge, the same may happen here, he feared.

Idress Qadri another senior member of DTMA feels that with ever increasing infrastructure cost including cost of material especially labour and electricity even the exports will suffer as being exporters they are being outpriced in the international market.  The local industry is badly affected with the frequent jumps in dollar and everything has become more expensive. He also showed his concern about CNIC condition.

Ashraf Ghauri head of DTMA in Karachi also expressed his concerns. He felt that these policies of the government will only boost grey market where no such regulations are implemented. The registered ones doing legitimate business stand to suffer adversely.

People having millions of rupee worth of stock with no import trail may fill the gap. The market is already facing shortage, he added.

DTMA as a group supports PM Khan government’s policies but feel that the pace has to be a bit slow to make people move from completely undocumented to documented economy.

DTMA is now looking towards the government for support and come up with a plan that should encourage the documentation yet give some breathing space for people to start understanding the utility of the whole new system being introduced.

July 12, 2019

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