Pakistan poultry prices to sky-rocket
The possible levy of the General Sales Tax on poultry feed in Pakistan will result in poultry prices escalating by around 20-25%, experts have warned.
The GST is likely to be announced in the federal budget, as the new government takes extra measures to enhance its revenue base.
The poultry industry firmly opposes the move, calling it detrimental to the growth of this important sector of the economy. Ex-Chairman Pakistan Poultry Association Abdul Basit said the poultry industry was already passing through a critical phase, facing Rs1 billion losses every month.
Basit added that poultry was one of the most important sectors of the economy as it provided livelihood to millions of people across the country and ensured the availability of cheap animal protein to the masses.
He asked the authorities concerned not to tax the food sector, keeping in view its repercussion on the food security of the country. Talking about the impact of GST on the poultry sector, Basit said the industry would mostly have to bear the negative impact as it could not be passed over to the consumers.
Source: The News
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