MUZAFFARABAD: (Parliament Times) A spokesman of AJK government has refuted the negative news carried by a section of press and electronic media regarding foam industry of the State.
The spokesman terming the news as unfounded, concocted and baseless explained that according to a government notification issued on Feb 8, 1995 new industrial units have been given tax exemption for the first five years which also include foam factories of AJK.
The spokesman said that the news that 80% imported raw material was given to Mirpur industrial zone without any tax is also not correct. The spokesman clarified that when the raw material is imported to AJK industrial zone government of Pakistan before importing and clearance of goods at the port charges 5% to 20% custom duty, sales tax 17%, Sindh excise duty 1.15%, income tax 5.5% and other taxes. Contrary to it these foam manufacturing units have sales tax exemption in AJK but in value edition they have been provided with a small percentage of 3.4 to 4. It only aimed at promoting the AJK industrial development, strengthening economic condition and creating more and more employment opportunities, explained the spokesman.
The spokesman further said that the rules and regulations applicable to foam manufacturing factories set up in Pakistan are also followed by AJK.
The spokesman lamented the negative campaign against foam manufacturing factories of AJK through advertisements in press which aims at sabotaging the developing revolution of industry, failing the existing industries and discouraging the investors to invest their capital in this sector in AJK.
The spokesman clarified that government was determined for growth and development of industrial sector in the State and was taking necessary steps to encourage investors to better the economic situation and to create more employment opportunities for the educated youth. AJK government stands with the investors to counter the nefarious designs of the external elements that are conspiring to damage the industrial sector of the State, added the spokesman.
