Beverage industry delegation suggests FED reforms for industry growth

May 23, 2024 (MLN): A delegation of representatives from the Aerated Beverage Industry led by President of Lotte Akhtar Beverages Ghazi Akhtar on Wednesday presented several tax proposals for the upcoming fiscal year, suggesting adjustments to the Federal Excise Duty (FED) that could support their industry growth.

The suggestions were presented to the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, in a meeting also attended by the Turkish Ambassador to Pakistan, H.E. Dr. Mehmet Pacaci.

The delegation expressed their appreciation for the government's economic initiatives and conveyed that they are encouraged by supportive policies of Government.

Finance Minister Muhammad Aurangzeb highlighted the government's commitment to support the private sector.

He emphasized the Prime Minister's vision for private sector-led economic growth as reflected in the ongoing privatization efforts. He assured the delegation that the government will proceed with strategic intent and within the available fiscal space.

The delegation thanked the Finance Minister and expressed optimism for continued collaboration and support.

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