The federal budget is termed a visionless document.

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Samina Fazil, founder and President of the Islamabad Women’s Chamber of Commerce and Industry (IWCCI), emphasized on Friday that the federal budget lacks a comprehensive vision. She pointed out that the budget, instead of supporting the people and businesswomen, seems to favor the influential elite, a stance that is detrimental to the business community.

Addressing the businesswomen, Samina Fazil underscored the budget’s adverse effects on the masses, the salaried class, and the business community. She lamented the increase in taxes on the vulnerable, the government’s failure to curb its extravagant spending, and the impending introduction of a mini-budget, all of which she predicted would push millions of people below the poverty line.

The record increase in taxes in the budget will also lead to a huge rise in inflation. The income from taxes will be spent on the luxuries of the elite, and our leaders will continue to beg to run the country.

Samina Fazil criticized the role of the FBR in the budget, stating that if the institution were fulfilling its responsibilities, there would be no need to burden the people with increased taxes. She accused the FBR of avoiding direct taxes, thereby allowing the government to use taxation as a means to oppress the people.

FBR has become a hub of corruption and incompetence, and its top officials always dance to the tune of the influential elite, she observed.

She said that the government will never include property tycoons, landlords, wholesalers, retailers, and the cigarette and broker mafia in the tax net and will never revise the cruel agreements made with IPPs that have bankrupted the country.

“The elite and the government stand on the one side, while the disappointed masses are on the other,” she said. She added that the government says it is trying to increase exports, and at the same time, it is levying taxes on this sector, which indicates confusion.

Samina Fazil said that increased taxes on the salaried class have made it impossible for lower-class employees to make a living. Taxes have been increased in all sectors, which will depress the economy. She said the deprivations of the weaker sections will continue to grow, claims against the ground realities will continue, and finance ministers will continue to be imported to solve local problems. 

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