[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Coca-Cola Pakistan has encouraged the federal government to cut the federal excise duty (FED) on beverages in the 2018 budget from 20% to 16%.
Coca-Cola representatives told the Senate Standing Committee on Finance and Revenue on Tuesday that Pakistan is the second most expensive country after Saudi Arabia, and that the recent hike in FED has cut the company’s revenues by roughly 25%.
It is worth noting that the federal government raised the FED on sugary drinks such as soft drinks, beverages, energy drinks, and juices as part of the mini-budget proposed earlier this year.
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The All Pakistan Fruit & Vegetable Exporters, Importers, and Merchants Association (PFVA) asked Prime Minister Shehbaz Sharif to intervene and revoke the proposed rise in FED on the beverage industry at the time.
Back in February, a US Embassy delegation led by Commercial Counsellor Aaron Fishman and representatives of multinational beverage companies visited the Federal Board of Revenue (FBR) and met with Special Assistant to the Prime Minister (SAPM) on Revenue Tariq Pasha and FBR Chairman Asim Ahmad in an attempt to persuade the government not to raise the FED.[/vc_column_text][/vc_column][/vc_row]
