RUMINANT NEWS

GOVERNMENT FORMS SPECIAL COMMITTEE TO STREAMLINE DAIRY SECTOR

The federal government formed a special committee to ascertain the profit and loss situation in the country’s dairy sector. According to sources privy to this development, Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh held a meeting with the members of Pakistan Dairy Association via video link, wherein issues being faced by the dairy industry were highlighted while suggestions that could help the industry flourish and expand its base in the near future were put forth. The association members particularly requested “relief in taxation matters”, as that “could make the industry more compatible with the informal sector”. The adviser was informed that all dairy companies were facing financial constraints and that the sector was currently operating at under 30pc capacity. The adviser said he was aware of the importance of the industry and that the foremost objective of current government was to support businesses and provide employment. He directed to form special committee under the chairmanship of the finance secretary and with representatives from both the Federal Board of Revenue (FBR) as well as the dairy industry. “This committee shall give its report within two weeks and provide information/data regarding the profit and loss situation of the dairy business, current rate of utilization of its full capacity & future possibilities of growth, the cost of relief requested from the government, the overall implications of the relief measures for the industry’s growth, institutional arrangements that could help in the discharge of their liabilities and any other factors that should be considered.” he added, the request of PDA shall be considered after reviewing facts to make best decision in favor of economy and well-being of people.