APTMA urges Punjab CM to review business timings
March 1, 2023 04:25 PM
All Pakistan Textile Mills Association (APTMA) officials and Chain Stores Association of Pakistan has written a letter to Punjab Chief Minister Mohsin Naqvi, expressing their concern over the retail chains’ potentially limiting business hours, reported 24NewsHD TV channel.
A letter was also written to Federal Minister for Energy Syed Naveed Qamar on behalf of the APTMA leaders, and Chain Stores Association.
Proposals regarding energy conservation were submitted to the Chief Minister of Punjab and the Federation through a letter.
The letter stated that the retail sector generates $62 billion, or 18%, of the nation's total economic output. Hence, a 30 percent reduction in sales from curtailing hours would cost $15 billion.
Likewise, saving 62 billion of energy will result in a loss of 600 billion in terms of GST.
The letter also highlighted its effects, noting that the reduction in working hours will directly unemployed 10 million people.
Retail sector pays GST of 17% and income tax of 35% in exchange for zero subsidy on electricity, Rs.70 per unit.
They unanimously demanded the extension of business timings until 10 pm.
They also suggested limiting the use of air conditioning after 7 PM and restricting lighting in shopping malls, and shops.
Reporter: Shehzad Khan