PESHAWAR
\nSarhad Chamber of Commerce and Industry announced the federal budget as traditional and controlled rather than balanced, stating that it falls short of the business community\u2019s expectations.
\nIt added the presentation of a growth-oriented, progressive and business-friendly budget impossible under the current IMF-harsh conditions.
\nFazal Moqeem Khan, president of the chamber while giving his reaction on the recently presented federal budget here on Wednesday said the business community was expecting a pro-business budget for next fiscal year, but it isn\u2019t as per their expectations.
\nSCCI senior vice president Abdul Jalil Jan, former FPCCI president Ghazafar Bilour, former president Haji Muhammad Afzal, Riaz Arshad, Malik Niaz Ahmad, Faiz Muhammad Faizi, members of the executive committee Aftab Iqbal, Ashfaq Ahmad, Nadeem Rauf, Shams Rahim, Adnan Nasir, Abdul Naseer, Sajjad Zaheer, former vice presidents Ejaz Khan Afridi, Javed Akhtar, traders leaders, Saddar Gul, Fazal e Wahid, Faiz Rasool, Secretary General SCCI Muqtasid Ahsan, representation of business community, industrialists and traders were present during the press conference.
\nMoqeem Khan hoped that the government would revisit the proposals that had been sent by SCCI and incorporate them in the next fiscal budget.
\nHe was of the view that some initiatives were anti-business that would bring further stagnation and hamper efforts for revival of business and industries in the country.
\nHowever, he said SCCI expected the budget would be pro-business and industries.
\nNo relief measures were proposed for revival of war-affected business and industries in Khyber Pakhtunkhwa, Moqeem remarked.
\nHowever, he took the stance that a business-friendly budget only be made possible when the country would free under tight monitoring IMF-framework.
\nFazal Moqeem criticized the government over increasing the 100 percent levy on petroleum per litre, expressing fear that the move will prove detrimental for the economy.
\nCommenting on the budget, FPCCI former president Ghazanfar Bilour said in the budget proposals, there was no mention and comparison of current GDP growth with previous fiscal year.
\nGhazanfar Bilour said that incentives were only announced for the elite class while poor masses were further burdened with direct and indirect taxes, and the government has continuously adopted policy to make poor people further poorest and rich more richest, which is highly condemnable.
\nFPCCI former president also strongly objected to the FBR new rules, allowing unprecedented authorities to tax-collectors under the unilateral initiatives.
\nHe said SCCI strongly condemned the black laws of FBR, and asked the government to immediately revisit these all rules which would prove further destructive for businesses and industries.
\nThe Finance Minister was told that huge foreign exchange reserves had come into Pakistan in the last year but he must also explain how many investments were shifted from the country, Ghazanfar asked.
\nHaji Muhammad Afzal, who was also traders\u2019 leader and regional chairman of FPCCI said that the government took initiatives regarding small traders, which are unacceptable.
\nHe made it clear that small traders will strongly protest against imposition of Point of Sale and other anti-traders initiatives and urged the government to reconsider initiatives and make them traders-friendly.
\nHaj Muhammad Afzal said SCCI had given proposals, which should be incorporated before the approval of the next fiscal budget.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR Sarhad Chamber of Commerce and Industry announced the federal budget as traditional and controlled rather than balanced, stating that it falls short of the business community\u2019s expectations. It added the presentation of a growth-oriented, progressive and business-friendly budget impossible under the current IMF-harsh conditions. Fazal Moqeem Khan, president of the chamber while giving his […]<\/p>\n","protected":false},"author":2,"featured_media":483690,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-483678","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n