Mardan
The business community on Tuesday totally rejected the ‘mini-budget’ and warned that the imposition of Rs 170 billion taxes worth billions of rupees would unleash a “storm of inflation” to the misery of the poor people besides slowing down the national economy.
Representatives of business community held a meeting at the Mardan chamber of commerce and industry (MCCI) here said new taxes would lead the economy to a complete destruction.
(MCCI) president Zahir shah khan told reporters that the federal government was set to make people’s life extremely miserable through the mini-budget.
He said the move would escalate the cost of industrial production and lead to a total collapse of the economy.
Zahir shah said the business community would take “aggressive steps” if policies were made against its interests and in that case the government would be responsible for any untoward incident he said it had become quite difficult and instead impossible to run industries and businesses after a whopping increase in the price of electricity, gas and petroleum products.
He said Businessmen are in great trouble due to the anti-business policies of the government. Zahir shah also complained about the unavailability of raw material to industry due to the refusal of commercial banks to open letters of credit and said the situation had aggravated.
He said unilateral policies of the government had added to difficulties of the business community on a daily basis, which is highly condemnable.
The MCCI President Zahir shah said those who claimed to put the economy on the right track and bring down the value of the US dollar had let the country to bankruptcy.
He said on one hand, the government claimed to be taking austerity measures but on the other, it had created a large cabinet.
He Further said the appointment of a brigade of ministers, advisers and special assistants is a sheer injustice to the country’s poor people.
He said on one hand, the country was sinking into foreign debts but on the other, the rulers were increasing their unnecessary expenditure. We the business community totally reject this unfriendly mini budget as the poor mases are already over burden due to heavy taxes.
