PIBF launches campaign against petroleum levy

The Pakistan International Business Forum (PIBF) has initiated a nationwide "Say No to Petroleum Levy Tax" signature campaign aimed at mobilising the business community against the growing burden of petroleum-related taxes. PIBF leaders, including Central President Dr Mushtaq Mangat and Secretary General Muhammad Ejaz Tanveer, stated that the campaign seeks to gather signatures from businessmen, traders, industrialists, and representatives from various sectors across Pakistan to collectively advocate for the reduction of petroleum levy.

They highlighted that rising fuel costs impact the economy by elevating transportation, production, logistics, and distribution expenses, ultimately leading to higher consumer prices and reduced purchasing power. Dr Mangat emphasized that the business community is already grappling with challenges such as high energy costs, rising input prices, taxation pressures, and weak demand, stating that further increases in petroleum taxes would exacerbate the difficulty for businesses to remain competitive, expand operations, and generate employment.

Ejaz Tanveer urged the government to review the existing petroleum levy structure and provide relief to the productive sectors of the economy. Abdul Wadood Alvi noted that fuel is a critical input for every sector of the economy, and fuel price increases directly or indirectly raise operating costs in manufacturing, agriculture, transportation, retail, and services.

Muaz Qazi called for active participation from chambers of commerce, trade associations, industrial bodies, traders, entrepreneurs, and other business community members across Pakistan in the campaign.

Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.