“We want to appeal to the government that the 50% Reduction on the Benchmark Values is the last straw of hope that businesses are holding on in the wake of the outbreak of the covid-19 pandemic,” GUTA said in a statement.
The traders argue that world commodity prices have gone up astronomically, and freight charges, prolonged shipment of goods and other related problems have rendered their businesses near collapse.
The above factors contributed to the unbearable prices of goods in the market for the consuming public already suffering from the effects.
GUTA said regarding the selected items, which include rice, edible oil, biscuits, frozen chicken, and other food and essential commodities, “we do not have self-sufficiency and sustainability in the local production. [Therefore] for us to surcharge and punish the final consumer who barely have sufficient and affordable alternative will not be fair and disastrous.”
The association has admitted that the government needs to increase its revenue mobilization. However, “this form will not succeed as it will rather induce smuggling and other unorthodox ways of clearing goods which have always impeded government from achieving revenue targets.”
GUTA suggested that the government should look at the abuse in the system of warehousing, goods in transit and the tax exemption policy. Then find innovative ways to monitor and control these areas to will stop or minimize drastically excessive leakages in the system.
“We will also encourage the government to only shortlist these selected items to products that border on Health and Security”, the statement added.
GUTA further noted that the time is not ripe for the reversal of “this good and strategic policy when consumers are suffering due to the high level of prices of goods,” adding that “already prices have reached unbearable limits.”
The association urged the government to listen to their plea and help to mitigate the plight of the business community as well as the consuming public. Read Full Story
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