FCCI Welcomes Budget Focus On Agriculture, IT

FCCI welcomes budget focus on agriculture, IT

FAISALABAD, (UrduPoint / Pakistan Point News - 10th Jun, 2023 ) :The government has focused on agriculture and IT to give a quick start to the economy by doling out substantial incentives to the sectors despite critical and trying times.

This was stated by Dr Sajjad Arshad, senior vice president Faisalabad Chamber of Commerce & Industry (FCCI), while giving reaction on the federal budget 2023-24 during a press conference here. He said that agriculture was an important sector of the national economy and it could immediately produce positive results if incentivised through positive steps. He further said that the incentives would not only increase the overall agriculture production but also create much-needed jobs for the unemployed youth.

He said that incentives had also been given to the IT sector that would pave the way to earn precious foreign exchange. However, no tangible facilities had been given to the textile sector to fully exploit its inherent potential as it was also a mainstay of the economy. "We are critically analysing this situation and will inform the government about our genuine reservations which will help the government make necessary adjustments in the budget document before its approval," he added.

Responding to a question, Dr.

Sajjad said the FCCI was an apolitical entity. However, they intended that in line with the 'Charter of Democracy', the political parties should also ink a 'Charter of Economy', which would help the business community to initiate and undertake long-term strategies to revive the national economy on a sustained basis. He expressed concern over different tariffs for gas for different provinces and said that uniform rates might be introduced across the country. About the increase in the salaries of the workers, he supported it and said that in view of inflation and skyrocketing prices, the increase in salaries was justified.

Vice President FCCI Haji Muhammad Aslam Bhalli appreciated the federal budget speech but said that small traders had been ignored in it. He said that during a meeting with the Federal Finance Minister, he had assured to introduce a fixed tax regime for the traders, but he had uttered not even a single word about it.

Former presidents FCCI Rana Sikandar Azam and Chaudhary Muhammad Nawaz, Executive Members Mian Muhammad Tayyab, Maqsood Akhtar Butt, Hajji Abdul Rauf and former executive member Kashif Zia also responded to the questions of the journalists regarding the budget speech of the Federal Finance Minister.