Exporters reject budget terming it anti-industry

Exporters have termed the federal budget 2011-12 as anti industry and government-friendly, which has noting for the country's ailing export-oriented industry. Commenting on the federal budget 2011-2012, Javaid Chonaye, chairman Pakistan Readymade Garments Manufacturers and Exporters Association, said that the announcement of the budget by Finance Minister Abdul Hafeez Sheikh was just a formality to fulfil the constitutional requirement.
"The opposition lodged noisy protest during budget session. When the government failed to satisfy the members of the National Assembly, then how it can be industry and trade-friendly," he opined. "We believe the government will announce several mini budgets during the whole year to meet its targets and these mini budgets will have more taxes," Javaid said.
Shabbir Ahmed, Chairman Pakistan Bed Wear Exporters Association, said that there was no incentive and relief for the country's ailing trade and industry. "The budget is like a sugar-coated poison which will definitely create more difficulties for the industry and exporters. The exports are expected to decline owing to massive decline in cotton's prices, but there is no announcement for the country's largest sector," he added.
Commenting on the budget, Muhsin Ayub Mirza, former chairman Pakistan Readymade Garments Manufacturers and Exporters Association, criticised the government for its flawed policies. He said that the tax-to-GDP ratio of the country was still nine per cent, which should have been doubled. "Every body should be brought under the tax net at any cost, otherwise the government will face heavy fiscal deficit, which will compel it to more borrowing from local and foreign financial institutions," he added.
Javaid Bilwani, Chairman Pakistan Hosiery Manufacturers and Exporters Association, also criticised the budget and said that for the first time in the history of the country, the ministers' budget speech concluded with 20 mints. He said at present the country was facing severer energy crisis and no concrete measures were announced to overcome the crisis.