LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) in its executive commiittee meeting on Friday reviewed the federal budget 2020-21. Zarak Khan of PCJCCI said during the meeting that the government did its best by providing a tax-free budget but the projects under the CPEC were slightly ignored.
No special policy has been announced to improve exports and to remove the hurdles that hampering growth of export sectors. The economy of Pakistan is rotten and it is the duty of both government and private sectors to join hands for its betterment and development, he said.
Senior Vice President Moazzam Ghurki said that Pakistan's Public Sector Development Programme (PSDP) has allocated Rs 21 billion for the projects under CPEC in the budget. For the year 2020-21, Rs 21 billion for projects except a few major road and rail projects under the CPEC, the PSDP does not allocate money for any other contemporary scheme, he said.
There is no mention of any allocation for any of the much-discussed industrial zones, which were to be established under the CPEC for industrial and economic growth of the country, he added.
He said that the government has shifted the blame on Covid-19 for all ills of the economy, but before the pandemic the economy was already on the ventilator.