Budget leaves IWCCI disappointed
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Budget according to aspirations of FBR
Prices of necessities to burn a hole in pocket
Samina Fazil, founder president, Islamabad Women’s Chamber of Commerce and Industry (IWCCI) on Friday said budget has left women entrepreneurs highly disappointed and added to the miseries of man on the street.
Masses were anticipating some relief in the first budget of the new government but it proved to be a major destabilising factor as far as budget of households is concerned.
Speaking to female entrepreneurs, she said that budget is according to wishes and aspirations of the FBR whose negative impact has starting engulfing whole country.
Dr Murtaza Mughal, President of the Pakistan Economy Watch, President IWCCI Farida Rashid and others were also present on the occasion.
Samina Fazil said that budget is based on expectations while ambitious collections target will further weaken the private sector and choke growth.
Abolishing agricultural subsidy will destroy this fragile sector while taxes on inputs will hike the price of edibles, she said.
“Giving FBR access to the banking system will promote informal banking, corruption and depression among business community,” Samina observed.
Speaking at the occasion, Dr Murtaza Mughal said that government has announced to tackle circular debt which will again surface if energy mix of the country remained tilted towards imported fuel.
Slapping taxes on construction industry will hurt middle class who use lifetime savings to make a small home, he said.
Government’s educations system remains dysfunctional while economic managers have made education more costly which will hurt low and middle income groups, said Dr Mughal.
This decision will augment drop outs from schools and increase number of child labour in country. He said that the budget is a good attempt to defame the PML-N government as rising prices of necessities to burn a hole in pockets of poor.
