ICCI sees no measures for industrial revival


There is no incentive and relief for the country’s ailing trade and industry. Pakistan is facing severe energy crises but no concrete measures were announced to overcome the crisis. Giving his reaction after the budget speech of Federal Budget 2012-13, Yassar Sakhi Butt, President, Islamabad Chamber of Commerce & Industry (ICCI), said that no pragmatic steps have been announced by the government to create job opportunities and provide relief to the masses who were stricken by the sky-rocketing price hike.
He said that very diminutive money has been set aside in the budget for fast crumbling infrastructure. He maintained that the budget was not reflected by any long-term planning and strategy to address key issues confronted by the country. ICCI President said that the revenue target of Rs.2.38 trillion was unrealistic that will open new opportunities of corruption and 4.7 percent fiscal deficit target was simply not achievable. He said that sale tax has been made uniform to 16 percent, however it should have been further reduced to bring down the rate of inflation.