950819

MCCI condemns

FIA raids on

sugar mills

RECORDER REPORT

MULTAN: The President of Multan Chamber of Commerce and Industry (MCCI), Khawaja Muhammad Abdullah has strongly reacted on the surprise raids of FIA on sugar mills and said that there was no justification for such a harsh step against seasonal factories because they are bound to supply their stock to market whole year.

Addressing a crowded press confernce here on Saturday he said that at least 50 percent industry has so far been closed in the country, similarly 30 percent spinning and 70 percent weaving industry has come to a standstill owing to ill-conceived policies of the government. He held the deficit financing, non-development expenditure and inflation responsible for price hike in the country. Khawaja Abdullah said that members of Chamber of Commerce and Industry would also observe the strike on August 27 to express solidarity with the traders of Pakistan who were protesting against new income tax system, raise in the power tariff and additional surcharge.

The mark-up rate, Khawaja Abdullah said that Pakistani industry is not capable to compete with the international market because our cost of production had increased considerably.

MINISTRY

He reiterated his demand for introduction of a separate ministry of textile. The package announced by the ECC meeting held on November 21, 94 be implemented, concessional mark-up be introduced for textile industry to save it from total collapse.

DAM

The chamber chief said that government should execute the project of Kalabagh Dam to generate hydel power because it is cheaper than thermal power. He said that this issue should not be politicised because this gigantic project would help in supply of cheapest power.

RURAL

He said that there was no justification for abandoning the rural industrial scheme and this step would create troubles for such entrepreneurs who had opened their letter of credit just before June 30, or those who initiated their projects, now, would not entitled to get concession in duties and taxes.

SOCIAL SECURITY

He alleged that social security department was harassing and victimising the local industrialists in spite of this fact that they were paying their dues regularly. But now this department had issued notices of arrears of five years to them which is entirely unjust.