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HCSTSI rejects exploitative budget: demands reconsideration.

HYDERABAD -- President Hyderabad Chamber of Small Traders and Small Industry Muhammad Farooq Shaikhani has, on behalf of chamber and on behalf of trade and industry, termed budget 2019-20 as cruel and killer budget for business community. Commenting on annual budget presented in national assembly, he said since inception of this government, it has brought many mini budgets causing storms of inflation to crush people. He said they were hoping that annual budget would provide relief to business community but by imposing taxes on steel, cement, textile and marble the government has decided to destroy business of textiles and builders.

When industry will be destroyed who will pay you taxes and when country's production would come to standstill then export would come down then where from would come foreign exchange which would be great national loss. He said government failed to provide relief to business community nor to people and also did not held consultation and debate with stake holders. All burden of increase in taxes would fall on people aggravating their difficulties and the claims of government that it will provide relief to people will prove wrong. He said government did not take right step by abolishing zero rating on exports. He made appeal to prime minister, adviser on finanace Hafiz Shaikh and state minister Hamad Azhar to reconsider the taxes imposed in budget on so that people and business community could feel relief instead of pressure.

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Publication:The Messenger (Karachi, Pakistan)
Date:Jun 15, 2019
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