The government is hoping to persuade BOI firms to submit to the proposed Economic Service Charge.
Finance Minister K N Choksy says the agreements with BOI firms and International Investor Protection Agreements, that the government is signatory to, prevented the state from slapping such levies against their will.
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rnFinance Minister however says they should pay the economic service charge as users of public infrastructure and economic services.rn
rnldblquote A request will be made to BOI companies to submit to the ESC from 2005/06 as a measure of fairness in view of their enjoying the same infrastructure and other Government services in conducting their business. We expect to collect Rs 3,000 million in revenues during 2004 with the introduction of this Economic Service Charge,
dblquote says K N Choksy, Finance Minister in his budget proposals.
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rnThe minister told LBR that although the companies are not under compulsion to pay the Economic Service Charge they will discuss the matter and hopefu