PESHAWAR: The business community of Khyber Pakhtunkhwa on Thursday strongly reacted to the federal government`s `cold response` to its demands, especially withdrawal of the recent regulatory duty on hundreds of imported items, and warned that they will agitate if demands are not met at the earliest.

Sarhad Chamber of Commerce and Industry (SCCI) president Zahidullah Shinwari told a news conference at the Chamber House here that the recentlyimposed regulatory duty on imported items would not only increase the prices of consumer goods but also promote smuggling in the country and thus, reducingthe government`s revenues.

He said the Federal Board of Revenue through a statutory regulatory order had imposed regulatory duties from 10 per cent to 80 per cent on 731 essential items due to which consumers would bear the brunt of Rs25 billion worth of new taxes.

The SCCI president said business community was an important stakeholder but the federal government didn`t bother to take it on board before imposing the regulatory duty, which would further weaken national economy.

He called for the immediate withdrawal of that duty in the `best interest` of the economy.

Mr Shinwari said the move won`t lower the current trade deficit and instead, it would further affect the existing export volume with other regional countries, particularly Afghanistan, as prices would increase f ast.

Accompanied by senior vice president of the chamber Naeem Butt, vice president Malik Niaz Mohammad and executive committee members, the SCCI presi-dent said the federal government should take measures for giving the maximum relief to the poor people and business community instead of imposing new taxes on them.

He warned that if the government didn`t withdraw the regulatory duty on imported items, then all chambers and business community of the province would start agitation and the federal government would be responsible for its effects.

The chamber chief said keeping in view the unjust policies of the federal government with KP, the chamber had decided to hold a multiparty conference in Febto jointly frame a `charter of economy` for the development of the province and adjoining tribal areas.

He also complained that the federal government had ignored both KP and Fata in the multibillion dollars ChinaPakistan Economic Corridor project.

Mr Shinwari said the SCCI had planned to organise a conference on the CPEC this year to help businessmen unanimouslyraise voice for the provision of due share and rights to KP and tribal regions in the project.

He said businesses activities were adversely affected by the imposition of dif ferent taxes.

`The chamber has decided to move the court of law against all such unjust laws, issues like fuel adjustment charges and gas infrastructure development cess, tax refunding, professional tax, further tax and withholding tax, and against EOBI, SNGPL, Wapda, Securities Exchange Commission of Pakistan and textbook board,` he said.

The SCCI president said the law and order situation had improved in KP but businessmen continued to received telephonic calls for extortion upsetting them.

He urged the government to ensure protection of the business community and take decisive action against the people involved in heinous crimes and warned if that didn`t happen, then the people would leave the province to prevent threat to ownlife.