Patron in Chief of Korangi Association of Trade & Industry (KATI) SM Muneer and President Sheikh Umer Rehan had termed the federal budget as balanced and applauded the government for not putting new taxes in the finance bill.
SM Muneer said that giving relief to the industry in duties on raw material and other incentives are commendable. He mentioned that for the sustainability of economy PM Khan has taken some tuff decisions and we expect that to give more relief to the industry he will take more measures.
President KATI Sheikh Umer Rehan said that budget is balanced but the revenure targets are unrealistic. He noted that the increase in amount with the condition of CNIC is a good step to fix cash circulation issue. He said that the biggest relief for the industry would be lowering down the energy prices. He said that to provide the relief of budgetary incentives to the industry interest rate should be decrease at least to 6 pc. He also suggested that public power partnership would be the great solution for creating employment and economic activities in current crisis government may have start some projects with the collaboration of private sector.
He further said that government should take steps to reinstate and support closed or financially ill industrial units. He said that government should collect the data of such industrial units and businesses. “Whatever the situation would be the only solution to current economic crisis is to support and facilitate industry” he added.