‘FPCCI, Senate budget proposals deserve serious consideration’

KARACHI: Chairman of FPCCI Policy Advisory Board and National Business Group Pakistan, Mian Zahid Hussain on Wednesday said that the budget proposals presented by FPCCI and Senate deserve serious consideration.

All the recommendations made by FPCCI are concrete and actionable, aiming to reduce the burden on the commoner and avoid adverse effects on production and exports, he said.

He said that the budget has unnecessarily burdened the salaried class, association of persons and SMEs.

The government says that an additional 75 billion rupees will be collected from them in taxes, while economists believe that this collection will be more than 100 billion rupees, he added.

People are being squeezed while some other sectors are taxed mildly or not, which is a clear violation of the principles of justice.

Mian Zahid Hussain said that the government has also imposed taxes on many sectors, which will directly affect the people, and the problem of food security will become serious.

The business leader said that the Senate has sent 128 recommendations to the National Assembly, including reducing the tax burden on the salaried class, in which a 50% reduction in indirect taxes and an increase in direct taxes are the most important. Still, there is a clear lack of political will in this regard.

Copyright Business Recorder, 2024