Balochistan The management of Siddique Sons Tin Plate Limited, Pakistan’s only tin plate manufacturing factory located in the city of Winder, has written a letter to the Pakistan Stock Exchange informing about the closure of the factory.
Pakistan Stock Exchange spokesperson Saeed Soomro told Independent Urdu that according to the letter written on September 5, the company’s board of directors has decided to close the factory on September 4.
According to Saeed Soomro, this decision is due to tax-free tin plate imports by the government in the former FATA and PATA regions, selling cheap tin plates in the market, using zinc or gallium instead of tin plates for food packaging. Based on sales and other business issues.
Siddique Sons Tin Plate Limited was established in 1996 at a distance of about 95 km from Karachi. According to the website, the factory has an annual production capacity of 120,000 tonnes of tin plate, mainly used for packaging edible oils, fruits, vegetables, seafood, beverages, lubricant oils and other food items. Cans and containers are made.
Independent Urdu contacted Siddiq Sons Tin Plate Limited Chairman Tariq Rafi for a comment on the closure of the company and he said, “We can re-evaluate the closure of the tin plate factory, if the government approves of the food and beverage industry.” Take action on the health effects of using zinc or galvalom instead of tin plates for packing goods.’
He said that ‘in addition to this, the sales tax and income tax on the import of tin plates in the former FATA and PATA regions should be abolished.’
On the other hand, while commenting on the announcement of the closure of Siddique Sons Tin Plate Limited, Ismail Sattar, President of Lasbela Chamber of Commerce and Industries, said that due to lack of suitable business conditions in the country, huge increase in electricity and gas prices and other problems. Due to this, not only Winder’s factory but also many factories in Lasbela have been closed in recent times.
Speaking to Independent Urdu, Ismail Sattar said: ‘Due to various commercial reasons, it has become difficult to continue the industries. No one spends billions to shut down an industry, but business conditions have become such that it has become difficult for industries to run.
Electricity and gas prices are increasing day by day. Many new taxes have been imposed. There is no gas for factories in Winder. Two, three Industries was, which has been closed.’
He further informed that eight to 10 industries have been closed in the past few years in Hub, including two to three saria manufacturing factories.
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“Currently, the construction sector in the country has come to a standstill, so the sale of surya has come down tremendously. When the goods produced in the factory will not be sold, then the cost of production will not come out, so these industries are closing down.’
According to Ismail Sattar: ‘There are no problems like taking extortion from factories in Hab or Windar, but the main reason for the closure of industries is commercial problems.’
He said that the management of many factories registered with Lasbella Chamber of Commerce and Industries are worried about the deteriorating business conditions.
On the other hand, President of Karachi Chamber of Commerce and Industry Iftikhar Ahmed Sheikh told Independent Urdu that the main reasons for the closure of factories in Balochistan are business problems, increase in electricity and gas prices and excessive taxes by the government in the province. There is a deteriorating law and order situation.
According to Iftikhar Ahmad Sheikh: ‘Labour is easily found in Baluchistan and there are better opportunities for business, but due to the news that comes every day regarding law and order, industrialists prefer to close their factories. Shut down and work in a quiet place.’
He further said that ‘as in the past many factories were closed down due to the bad law and order situation in Karachi and their owners went to other places and started business, (to avoid this situation and) industries in Balochistan. For the promotion of peace and order has to be improved.
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2024-09-08 10:04:10
