Businessmen, Traders, industrialists, students and people belonging to all segments of society have announced their support for the September 3 strike call given by Jamaat-e-Islami Pakistan against the petroleum levy.
The Pak International Business Forum (PIBF) Central President Dr Mushtaq Mangat and other leadership in a joint statement issued here Sunday claimed this endorsing the protest and urged the government to withdraw the levy to provide relief to businesses and consumers.
PIBF Central President Dr. Mushtaq Mangat, PIBF Lahore President Abdul Wadood Alvi and Hafiz Mehmood expressed their solidarity with the September 3 strike and said that the continuous burden of petroleum taxes and frequent changes in fuel prices were creating serious difficulties for the business community as well as the common man.
Dr. Mushtaq Mangat said that the petroleum levy had become an additional burden on businesses and consumers already struggling with high inflation and rising operating costs. “The government should review its petroleum taxation policy and provide immediate relief to the business community and the people. Excessive taxation on petroleum products is increasing the cost of doing business and ultimately burdening consumers,” he said.
Abdul Wadood Alvi said businessmen were facing increasing difficulties in calculating their actual cost of production because of frequent changes in petroleum prices. “When fuel prices change repeatedly, transportation and logistics costs also move up and down, making it extremely difficult for businesses to determine production costs, fix prices and prepare reliable financial plans,” he added.
Hafiz Mehmood said the impact of rising fuel costs was being felt across the entire economic chain, from manufacturers and traders to transporters and consumers. He said the government should engage with all stakeholders and formulate a sustainable policy to control the rising cost of doing business.
The PIBF leaders said they supported the legitimate demands of the public and business community and urged the government to take immediate steps to withdraw the petroleum levy and reduce the burden of indirect taxation. They stressed that lower energy and transportation costs were essential for industrial growth, investment, exports and employment generation.
