Disappointment
Online
Peshawar
Chairman KP business advisory council and former Vice President of FPCCI, Muhammad Riaz Khattak showed disappointment over not including the Federation Chambers Proposals by at large in the 2020-21 budget which shows government didn’t paid seriousness towards apex body, despite our budget advisory council had prepared a comprehensive document.
Talking to news reporters via zoom, he expressed disappointment over the federal budget speech which comes sans any incentives to spur industrial growth, and ignored the entire industrial sector’s demand of restoring ‘no tax no refund regime’. “Extraordinary steps were needed to overcome extraordinary challenges in the post-COVID arena”. We could not be considered a relief budget. He said it is not a relief budget.
“It is true that no new taxes have been imposed, but some of the existing taxes have been increased and some are decreased.
Khattak said the budget did not announce any relief for the entire business community including SMEs, and small traders. “It should have been a relief budget. Government should have reduced taxes and provide relief on utilities and other levies and places right priorities in their available size of cake.
Similarly fiscal budget 2020-21 has nothing to offer for Pakistan’s export sector as few measures announced by the federal government are not even impressing. However, he added that the measures announced to demolish import duties on different raw material will help local manufacturers, and if they are importing raw material to produce finished goods for exporting purpose, it will provide them some relief.
