Karachi: Advisor to the Prime Minister on Finance Abdul Hafeez Shaikh on Monday stated that the government would announce a ‘relief budget’ for Fiscal Year (FY) 2020-21 to facilitate the promotion of businesses and to develop the country’s economy, according to news sources.
Shaikh was chairing a meeting with the Karachi Chamber of Commerce and Industry (KCCI) representatives where he said that the government was thoroughly reviewing their proposals and plans to incorporate them in the budget of the upcoming fiscal year (2020-21).
He emphasised that the government was keen on supporting the business community in these difficult times and will provide maximum relief. In response to a query regarding tax refunds, he revealed that the government is also looking to increase refunds from PKR 5 million to PKR 50 million – depending on the fiscal space.
KCCI President Agha Shahab Ahmed Khan said that the Pakistani people and the business community are looking for a relief budget – given these extraordinary circumstances – that will rescue the national economy from the brink of disaster.
Businessmen Group Chairman Siraj Kassam Teli pointed out some major macroeconomic issues and urged the government for prioritising trade and industry over revenue collection. He was seeking similar incentives as announced for the construction sector to boost the prior and generate employment opportunities.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
