Govt asked to give rice sector industry status
Karachi: The Union of Small and Medium Enterprises (UNISAME) has urged Pervaiz Malik the federal commerce minister to grant industry status to the rice sector based on its merit and requirements promptly.
President UNISAME Zulfikar Thaver said the rice growers ,millers, processors and exporters are all contributing towards the economic growth of the country collectively and deserve the status of industry for its recognition and promotion on fast track basis.
Thaver said all rice sector stakeholders who have formed a rice syndicate and as one voice are on the same page and demand and urge the ministry to oblige the sector with industry status due to their contribution to the GDP and economic growth which is substantial.
He emphasized the need to end the step-motherly treatment which is causing hardship to the sector which is second to the textile sector in every respect and meets all the parameters for industry status. It is indeed surprising and this omission is perturbing to the stakeholders. It is by all means a full-fledged industry employing huge number of people from the farms to the markets both domestic and overseas and is day by day getting modernized and on recognition as an industry it will be promoted and developed more.
The domestic turnover tax on rice of 0.2% imposed on turnover of Rs2million is unwise as during new crop arrival season it gets exhausted in couple of days and two million limit for the fiscal year is unrealistic.
Secondly rice needs 0 rating like the five other sectors exempted from taxes.
Moreover, it is important to make the export of rice competitive to meet global challenges he pinpointed.