Govt presented balanced budget In difficult economic conditions: President ICCI

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ISLAMABAD, JUN 10: /DNA/ – President of Islamabad Chamber of Commerce and Industry Ahsan Zafar Bakhtawari has said that the federal government has presented a balanced budget in difficult economic conditions, the Prime Minister, Finance Minister and the entire government deserve congratulations for presenting a people-friendly budget. The increase in incentives for sectors like IT, agriculture, solar energy, construction is a positive step, relief has also been given to traders and business community in the budget, the steps taken for the energy sector are welcome, it is hoped that on the basis of this budget The next financial year will open more balanced and development paths for Pakistan. The government should focus on political stability for economic development, anarchy and unpredictable conditions are not good for business.

He expressed these views while holding a press conference on budget proposals presented by the federal government. President Islamabad Chamber said that the government has made several important announcements for economic recovery in the budget. The decision to increase the salaries of government employees is welcome. The policy regarding bringing dollars to Pakistan from abroad is also encouraging. Agriculture is the backbone of Pakistani economy. Appreciating the incentives given to agriculture, He said that last year was the most difficult year for the Pakistani economy, where on one hand the flood disaster caused a loss of 30 billion dollars to the economy, on the other hand the country suffered a lot due to political instability.

He said that the business community of the entire country, including the Islamabad Chamber, demands a Charter of Economy. If there is no continuity in the policies, even the best policy cannot be beneficial. He said that the government has taken historic steps to reduce the trade deficit. Which has reduced the trade deficit from $17 billion to $4 billion, which is a major achievement of the government. The IT sector has been neglected in the past, the initiatives announced by the government for entrepreneurship in this sector will bear fruit in the coming years. He said that energy is a serious problem of Pakistan, we need to focus on other sources instead of generating expensive electricity. The government has announced the abolition of duty on solar panels and its raw materials, which will be welcomed. There is also a need to come up with a workable policy to switch all government buildings to solar immediately. He said that the coming year is the year of development, no tax has been imposed on all industries, we as businessmen value this budget.

Speaking on this occasion, Vice President Chamber Engineer Azhar Ul Islam Zafar said that the announcement of incentives for the service sector in the budget is welcome, the government needs to invest more in the youth. The government should announce sustainable measures for a permanent solution to the problem of LCs. President All Pakistan Anjuman Tajran Ajmal Baloch said that many concessions have been given in the budget. We expect more business friendly initiatives. The government should include the views of stakeholders in policy making regarding businesses. On this occasion, Islamabad Chamber of Small Trade and Small Industries President Sajjad Sarwar, Islamabad Women Chamber President Rizwana Asif and Ilyas Qazi also described the budget as positive in difficult circumstances.