Thursday , February 9 2023

Punjab Tax Relief Package during Corona Virus Lock-down 2020

Chief Minister Punjab Usman Bazdar has said that new time has been taken to protect the health and life of the people and will continue to take all possible steps.

Sanctions will continue for Two weeks to prevent Corona spread, but Goods Transport will resume nationwide

To prevent Corona, the Punjab government has tightened lockdown and Chief Minister Punjab Usman Bazdar has made new decisions and appointed new working hours of grocery, grocery, and general stores across the province, with effect from 1st April.

Punjab Tax Relief Package during Corona Virus Lock-down 2020

According to new hours, general stores, grocery, and grocery stores will be open from 09:00 am to 05:00 pm, however, medical stores and pharmacies will be exempted from the new business hours.

Punjab Tax Relief Package during Corona Virus Lock-down 2020

After the economic crisis caused by the Corona virus, foreign buyers canceled or suspended $ 1 billion worth of textile products from Pakistan, textile industries demanded emergency measures.

Trade rivals are appealing to global buyers from the Prime Minister’s level while officers in Pakistan are following the corporate culture. The Vice President of the FPCCI also confirmed the cancellation of orders and said that the cancellation of export orders from Lockdown due to the Corona virus has started to have negative effects on the economy of the country.

According to some textile exporters’ associations, orders worth nearly $ 1 billion to foreign buyers have either been canceled or postponed. To which the Secretary of Commerce Ahmad Nawaz Sikhera sent a tweet on the proposal that Pakistani Ambassador’s business officers in New York and The Hague tweeted their phone number and email address and invited the exporters to contact the textile exporters.

The Ministry of Commerce’s offer to use the offices of Pakistani business officers stationed at embassies abroad to help foreign buyers cancel their orders was not affected.

Due to the Corona virus, all export orders in Europe and the United States are being canceled, causing billions of damage to the country’s economy. He said that the government should adopt a strategy to prevent corona virus in which industries are not being shut down.

The lockdown on the Corona virus is also likely to affect the supply chain in the country due to the production of textile, pharmaceuticals and other industrial sectors. Pakistan exports $ 25 billion annually, but the flow is stopped due to lockdown. Work in Karachi industries has stalled.

Retailers such as Indie Tax Group, JC Penney, Macy’s, H&M, Kohl’s, Bed Bath & Beyond, Nike, Peak Cock, American Eagle and Ikea have closed their operations after the Corona virus outbreak.

The airlines and hotel industry have been hit hardest by the spread of the Corona virus worldwide and hotel business buyers abroad have also delayed their imports from Pakistan.