The increase in multiple taxes in the recent budget, coupled with the high cost of utilities, has surged the cost of production of the Small and Medium Enterprises (SMEs), threatening the survival of hundreds of business units, leading to possible shutdowns, layoffs, and a decline in exports. This was stated by Syed Raza Hussain, President of the Federal B Area Association of Trade and Industry (FBATI), while commenting on the dire situation of industries and SMEs.