ISLAMABAD, July 28: The Pakistan Sizing Association (PSA) has called off strike after the assurance of the Central Board of Revenue to consider their genuine demands.

The decision was taken in PSA members meeting with member sales tax Ramzan Bhatti and member income tax Vakil Ahmed Khan here on Monday.

The PSA went on strike on July 21 for pressing the government to accept their demands.

Speaking at a joint press conference, PSA chairman Mirza Shafiq Ahmed said following the assurance by the CBR, the association had withdrawn its strike with the hope that their demands would be considered favourably.

He said it was agreed with the tax officials that the PSA would deposit around Rs28 million with the collectorate of sale tax, Faisalabad, in the shape of value added tax during the current financial year against the last year’s payment of Rs25 million, an increase of Rs3 million.

Shafiq Ahmed said it was agreed in the meeting that the provision of article 40B would not be applicable on the sizing units.

In reply to a question, he said the physical verification of the documents of sizing units would be conducted in the connivance of the association.

The PSA chairman said they had been given the assurance by the tax officials that every unit would pay income tax on verified sales at the rate of 0.6 per cent of the total sales of the year.

Shafiq Ahmed said this facility would continue for the next three years with the assurance of the member income tax. He said there were around 100 sizing units in Faisalabad.