ISLAMABAD: Budget for fiscal year 2023-34 presented by Minister for Finance and Revenue Ishaq Dar evinced mixed reactions from trading community. Karachi Chamber of Commerce Addressing press conference, Tariq Yousuf President of Chamber termed budget 2023-24 ‘non-friendly’, saying that it was very difficult to run this budget next year. Tariq Yousuf noted that there was no mention of reduction in energy tariff, adding that government would fail to reach targets set in budget.

Meanwhile, Vice Chairman Anjum Nisar said that country’s exports will likely to be less than $ 30 billion, adding that target of Federal Bureau of Revenue will not be achieved. Taking over presser, AK Khalil criticised government for allocating “Only Rs 17 billion” for Karachi. “City which runs country has been ignored in budget”, he added. FPCCI In statement, Federation of Pakistan Chambers of Commerce and Industry said that no special measures were announced in new budget.

It noted that information technology sector should be given incentives like textile industry. “Exports would increase if IT sector is given special incentives”, FPCCI added. FPCCI also raised questions over tax targets set in budget 2023-24, saying that tax targets could not be achieved this year as well. “More burden was put on taxpayers instead of increasing tax net,” he said.

Pakistan Business Forum Meanwhile, Pakistan Business Forum in statement expressed ‘disappointment’ over budget, saying that no measures were taken to restore business confidence.

Published in The Daily National Courier, June, 10 2023

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