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Business community expresses dissatisfaction with budget for FY2020-21

Business community expresses dissatisfaction with budget for FY2020-21
June 12, 2020
ISLAMABAD (92 News) – The business community has expressed dissatisfaction with the federal budget for FY2020-21. Faisalabad Chamber of Commerce and Industry (FCCI) president Rao Sikandar Azam rejected the budget, saying that the government has not given a relief to the textile sector. “It neither redcued the power and gas prices nor it waived off sales tax,” he added. LCCI president Sheikh Irfan Iqbal said that it was not an easy task to present the budget. “The government has not imposed a new tax. It should have reduced the interest rate. The FBR target should have been reduced,” he maintained. FPCCI president Mian Anjum Nisar and other office-bearer said that the government had reduced the customs duty. “The budget can neither be positive nor negative. The situation will clear after emergence of hidden things,” he added. KPK Chamber of Commerce president Maqsood Anwar said that the budget has nothing for the poor. “The government itself is terming the budget a deficit budget. It is feared that the government can bring a reviewed budget after six months,” he added. Islamabad Chamber of Commerce and Industry president Ahmed Waheed said that inflation would reduce by giving a relief to industries in the budget. “It is a business-friendly budget. The customs and regulsatory duty has been reduced,” he added. The Karachi-based business community has rejected the budget. Zubair Motiwala said that the textile industry has been ignored in the budget. “The government should have not presented the budget when it could not complete its previous target,” he added. Traders’ leader Kashif Chaudhry said that the business community has not been given a relief in the budget. Naeem Mir said that the small business has been ignored. On the other hand, government employees organizations have demanded the government review the budget. “The decision not to increase the pension and salary is surprising. The government has rubbed salt into the wounds of over 3.6 million government employees,” he added.    
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