LCCI Delegation Opposes Government's GST Hike Plan

Representatives from various sectors, including the Veterinary Pharmaceutical Association, farmers, traders, and the poultry industry, have expressed worries regarding the government's plan to raise the General Sales Tax (GST) on veterinary medicines and feed. The delegation, led by the Lahore Chamber of Commerce and Industry (LCCI) Vice President, pointed out the potential negative consequences of these tax hikes.

The delegation highlighted that the higher GST rates on feed and veterinary medicines could result in a significant escalation in production costs. This, in turn, might lead to an increase in prices of poultry products, making them more expensive for consumers. They also argued that such a move could hamper the ability of Pakistani exporters to compete in international markets.

LCCI Vice President Adnan Khalid Butt voiced opposition to the new taxes proposed in the Federal Budget 2024-25, citing the possible impact on the poultry and dairy industries. He cautioned that implementing higher GST rates could trigger price increases for essential food items like milk and meat, thereby contributing to inflation.

Moreover, the delegation stressed the vital role played by the poultry industry in fulfilling the nutritional requirements of the country's population. They underscored the potential negative effects of the proposed tax hikes on the industry's expansion and job opportunities.

The delegation has urged the government to reconsider its decision in light of the adverse effects it could have on the poultry and dairy sectors, as well as the overall nutritional well-being of the population.