ISLAMABAD : June 11,2023: Chairman (Central) Employers Federation of Pakistan Senior vice Chairman Pakistan Hotel Association Mian Akram Farid while expressing his views on the federal budget said the proposals of the business community were not included in the budget.
Mian Akram Farid added that the special hotel industry and the industrial sector have been neglected in the budget,
He said that the manufacturing industry and hospitality sector, which employs millions of people, and is an important part of the country’s revenue, has not been given any relief in this budget.
He said that most of the focus has been on agriculture and IT sector, SMEs and civils. Which is a welcome thing. He said that the energy tariff for the industrial sector is very high, resulting in an increase in the cost of doing business, forcing the sector to use energy efficient equipment, but the increase in duties and taxes is disappointing.
He further said that no solution to control inflation has been mentioned in the budget. Considering the current economic situation, the federal government has not taken any significant steps in the budget to provide relief to the business community.He said that there has been no reduction in the prices of food items, oil, gas and electricity, the rate of sales tax on basic essentials has been maintained, which will further increase inflation and increase the hardships of the people.