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Budget draws mixed response from business, political circles.

The federal budget on Friday drew mixed response from businessman and political groups in the Sindh province with former terming it a balanced budget having a direction towards growth and development while the latter rejecting it completely with some exceptions.

Zubair Motiwala, Chairman of Businessmen Group, while terming it a balanced budget, said that apparently incentives have been given to industry and common people. He, however, lamented that in the current situation, it is not understandable to increase the revenue target by 24percent.

He also applauded measures announced aimed at reducing harassment tactics from the FBR against businesses said that reducing the discretion of the bureaucracy is a big decision.

He also stressed on the government to provide an environment that could enable broadening of the tax net.

He also praised self-assessment and third party audit and said it will have a benefit. The business community also lauded the government focus on local industry but highlighted the power shortage issues that could hamper production. There is surplus electricity but there is no arrangement to supply it to the consumer, they said.

Haroon Farooqi, Former President Karachi Chamber said that if the budget proposals are implemented, it will be an important development Shaukat Tareen's intention is development, he said. President Karachi Chamber Shariq Vohra said that the budget has included several proposals of the Karachi Chamber. Withholding tax has been reduced by 40 percent and we congratulate the PTI government on it, he said.

Sindh government

rejects federal budget

SINDH Information Minister Nasir Hussain Shah rejected the budget and said despite ruling for three years, no relief was given to the people in the budget. We thought that the PTI would provide some relief to the people in the budget to save its rapidly declining reputation; however, this budget proved that the PTI has no pain for the people, he said. There is a budget to benefit a certain class, Shah said, adding that the government employees are protesting, but their salaries have been increased by only 10 percent.

In the budget, Sindh province has been completely ignored in development projects, he highlighted.

The target of FBR collection has been set at Rs5,829 billion, while in previous years it has not been able to meet the target of Rs4,000 billion, said Nasir Shah. He further claimed that this year Sindh was given a share of Rs87 billion less. He also lamented that no considerable budget was allocated for Karachi, from where PTI has 14 MNAs.

Rs125 billion has been reflected in the Karachi Transformation Plan from the amount deposited by Bahria Town in the Supreme Court.

MQM-P

Meanwhile MQM-P's Faisal Subzwari termed it a victory for them and people of urban SINDH after an allocation of Rs5 billion was made for census process in the country.

PSP

Pak Sarzameen Party's (PSP) Chairman Syed Mustafa Kamal while rejecting the Budget 2021-22 termed it a gimmickry of numbers to deceive public, by preparing budget from 70 percent revenue generated by Karachi, the budget makers should first account for the amount spent on Karachi. Last year, those who allocated hundreds and thousands of billions of rupees for Karachi have not only spent a penny on Karachi so far, but a gang of PTI thugs in the name of clean Karachi has disappeared after plundering millions of rupees from the people of Karachi.

Millions have lost their jobs, inflation has broken the back of the nation but Imran Khan's government fiddled while Karachi burned.
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Publication:The Nation (Karachi, Pakistan)
Geographic Code:9PAKI
Date:Jun 12, 2021
Words:579
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