Mini-budget to deeply upset masses, businessmen


KARACHI : Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said the government has planned a mini-budget to raise revenue which is resulting in sleepless nights for the masses and the business community.
He said that the new tax measures will enhance revenue but damage the real estate market as foreign loans have failed to stem the rupee’s decline.
Mian Zahid Hussain said that a second mini-budget will be introduced if the first one fails to achieve the expected results.
Talking to the business community, the veteran business leader said that the decision of the government to bring in a mini-budget of Rs 00 billion has terrified the masses which are already facing one of the highest inflation in the world.

He said that the impending mini-budget is the result of an IMF agreement that prioritizes economic stability over economic growth which will be leading to economic slowdown, rising inflation, poverty, unemployment and unrest, while many businesses will go bankrupt.