Punjab govt urged to notify PIDC withdrawal

LAHORE: The Lahore Chamber of Commerce and Industry has urged the Punjab government to issue notification of withdrawal of Punjab Infrastructure Development Cess (PIDC) at the earliest, as it has caused unrest among the business community, a statement said on Wednesday.

LCCI President Sheikh Muhammad Arshad said that the imposition of PIDC is double taxation and will further burden up the existing taxpayer who were already coping with a number of challenges.

He said that after imposition of the Punjab Infrastructure Development Cess, the businessmen would start clearing their consignments in other provinces to avoid the tax, which would not only hurt the businesses of clearing agents and transportation companies that provide employment to thousands of people, but would also cause huge damage to the provincial exchequer.

At present, when businessmen of Punjab are trying to play their best for progress and prosperity of the country, they need a helping hand from the Punjab government, he said.

He said that there is a dire need to avoid new levies such as Punjab Infrastructure Development Cess, as they are not in a position to bear further burden.