KARACHI: Chairman of National Business Group Pakistan and president Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain emphasized the need that travel and tourism sector which is closed for over a year due to pandemic should be given relief package

He said the business community is pleased at the steps taken by the government to improve the growth rate.

The decision to freeze power tariff for industrial consumers for one year and reduce power tariff for domestic consumers will improve the economic situation and provide relief to the masses, he said.

He said the government has decided to improve the agriculture sector, increase and diversify exports, increase subsidies and extend construction sector amnesty scheme to December 31 are good steps however the issue of water scarcity should also be tackled on preference.

Zahid said the finance minister enjoys the confidence of the business community and some important opposition leaders which will help him forge consensus on important issues making the economy competitive in few years which will reduce the deficit and improve the living standard of masses.

The government should strive to reduce the cost of doing business in the budget and making the tax system easy while improving taxes from the retails sector through various steps including strengthening point of sale system, he demanded. He said the government is planning to extend power sector repayment of loans including that of IPPs and power sector which will reduce circular debt while payment of 90 billion rupees of 35 IPPs within days will improve overall conditions in the power sector.

The government has decided to abolish peak and off-peak tariff for domestic consumers and reduce the tariff for people consuming additional electricity which will increase demand for electricity and save gas that is a right move, he said.

Copyright Business Recorder, 2021