LAHORE, June 5: The Pakistan Industrial and Traders Associations Front has urged the government to announce a relief package for the industry and commoners in the budget.

Front Chairman Mian Abuzar Shad said the government should withdraw 0.02 per cent withholding tax on bank cheques of more than Rs25,000. Sales tax should be reduced from 15 per cent to 10 per cent and duty on import of raw material should be decreased to five per cent to cut production cost of industrial goods and control under-invoicing and smuggling.

He said the number of indirect taxes should be reduced and levies on petroleum products and electricity bills be abolished.

The State Bank should withdraw 35 per cent cash margin condition for letter of credit for import, and funds should be allocated for the establishment of business courts, he said.