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 Monday said the government is believed to be planning a new mini-budget which will hit masses and the industrial sector badly.
The industrial sector is already sinking under the burden of taxes and if a new mini-budget is introduced, thousands of factories will be closed and the life of the people will become more difficult, he said.
Mian Zahid Hussain said that the country will always be a slave while the people will not get employment, the government will not get revenue and exports will never pickup if industrialization is ignored as usual.
Talking to the business community, the veteran business leader said that efforts have been made for decades to turn the country into a trading state and a graveyard of industries.
How can a country progress where every other sector of the economy is being given priority over the industry due to which industrialists are locking down their factories and turning to stock exchanges, automobiles and property markets?
Many industrialists have relocated their business to other countries where the environment is conducive for the industrial sector, he informed.
Mian Zahid Hussain further said that real reforms are needed in tax administration and other areas of the economy instead of mini-budgets.
