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PESHAWAR, Jun 12 (APP):The president of the Sarhad Chamber of Commerce and Industry, Fuad Ishaq, has said that, in the context of the current situation, the coalition central government has presented a good financial budget.
Addressing a press conference here on the budget 2024–25, he said that the expectations of the business community were for a revolutionary budget, adding that the suggestions of the stakeholders and business community should be incorporated to make the budget more business-friendly to promote business and trade and stabilize the country’s economy, besides providing ample employment opportunities.
He said that there was a need to reduce the rate of taxes, especially the income tax, which should be reduced to one percent of the total turnover to achieve the target set for the next financial year.
He expressed hope that CPEC Phase II would increase investment in the country and create more employment opportunities through the establishment of industries.
The President of SCCI welcomed the government’s introduction of the Trader Friendly Scheme, but he has emphasized that the said scheme should be approved by the Parliament of Pakistan for the next 20 years and guarantees should be given to the traders that no new tax would be levied thereafter.
He proposed an end to IPPs and handing over PESCO and SNGPL to the Pakistan Army for improvement.
He proposed to deregulate the economy and urged people to take steps to develop the agriculture sector.
Fuad welcomed the introduction of free lunch facilities in government schools and demanded the immediate privatization of national institutions running at a loss to stabilize the country’s economy.
During the press conference, Sanaullah Khan, Senior Vice President SCCI, Vice President Ijaz Khan, Former Senior Vice Presidents Ziaul Haq Sarhadi and Imran Khan Mohmand, Executive Committee members Pervez Khattak and Hamza Ibrahim Afaf Ali Khan, Qaratul Ain, and President Gul, Faiz Rasool Ehsanullah Mohmand, Fazal Wahid, Humayun Fazal, Aftab Iqbal, Ehsanullah, business leaders, and representatives of the business community were present.