Government urged to tackle illegal imports harming domestic industries

Web DeskJune 7, 2024 07:10 AMbusiness
  • Illegal imports threaten local businesses' competitiveness in the market
  • Dual tax system burdens formal industrial sectors, hindering growth
  • Policymakers must act swiftly to create a fair business environment
Government urged to tackle illegal imports harming domestic industriesImage Credits: tribune.com.pk
The influx of illegal imports is harming domestic industries, prompting calls for government action to address issues like the dual tax system and unfair competition.

Domestic industries in our country are currently grappling with a major issue - the influx of imported goods through illegal channels like smuggling, under-invoicing, and mis-declaration. These unlawful practices have put local businesses at a severe disadvantage, making it difficult for them to compete effectively in the market.

One of the primary concerns raised by these industries is the existence of a dual tax system that places a heavy financial burden on formal industrial sectors. This system not only hampers their growth but also forces many business owners to consider shutting down their operations altogether.

It is crucial for policymakers to address these challenges promptly to safeguard the interests of our domestic industries. By eliminating the dual tax system and cracking down on illegal imports, the government can create a more level playing field for local businesses to thrive and contribute to the economy.

The detrimental impact of illegal imports on domestic industries cannot be overstated. It is imperative for authorities to take decisive action to curb these practices and support the growth of local businesses. By implementing fair trade policies and providing adequate protection to our industries, we can ensure a sustainable future for our economy and foster a competitive business environment.

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