Lahore, August 02 (Online): The government should resolve problems faced by oil marketing Companies immediately. The FIA should stop harassing oil marketing companies. Oil and Gas Regulatory Authority (OGRA) should renew the licenses of oil marketing companies. There is a risk of an oil crisis in the country due to the non-renewal of licenses. The sector, which contributes 25 per cent to revenue, is in trouble. Instead of facilitating business, difficulties are being created. Turnover tax should be 0.25% instead of 0.75%.
These views were expressed by Khawaja ShahzebAkram, Senior Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), while addressing a meeting of the FPCCI Central Standing Committee on “Oil Marketing Companies”.
Shahzeb further said that policies formulated without the consultation of stakeholders could not be successful. The government should take the oil marketing companies into confidence and resolve all issues immediately in consultation with all stakeholders.
Convener of FPCCI Central Standing Committee on “Oil Marketing Companies” Tariq Mahmood and other officials expressed their concerns and said that 0.75% turnover tax was imposed, which should be reduced to 0.25% according to other industries. Meritless notices are issued by the revenue and customs authorities.