Businessmen unhappy over delay in discussing budget proposals

KARACHI: Presidents of various regional chambers across Pakistan, including Karachi Chamber of Commerce and Industry (KCCI), who have jointly compiled comprehensive budget proposals, expressed sheer disappointment over unnecessary delays by Finance Ministry in organizing an important joint meeting between Federal Finance Minister Ishaq Dar and Presidents of various chambers of the country in order to effectively discuss key budget proposals for Federal Budget 2014-15.

In a statement issued on Monday, KCCI urged the Federal Finance Minister to hold this important meeting with Presidents of Chambers of Commerce and Industry as early as possible in order to provide business community an opportunity to effectively highlight budget recommendations in front of policymakers and get their viewpoint.

KCCI said that all Chambers of Commerce and Industry across Pakistan had reposed their confidence on KCCI by authorizing it to compile a comprehensive document carrying budget recommendations of various chambers for fiscal year 2014-15. In this connection, the Karachi Chamber staged 1st All Pakistan Chambers’ Pre-Budget Conference on February 4, 2014 which was followed by 2nd All Chambers Presidents Pre-Budget Seminar by Faisalabad Chamber on April 20, 2014. Both events were held with a view to reach a consensus on how to formulate joint budget proposals, review these proposals and devise a clear plan of action on how to convince the government to incorporate business community’s proposals in this year’s budget.

It is pertinent to mention here that the Karachi Chamber of Commerce has already dispatched a comprehensive budget proposals’ document for Federal Budget 2014-15 to the federal government and a letter dated April 15, 2014 was also sent to the Finance Ministry requesting time for a meeting between Finance Minister and President of all chambers in order to discuss various issues and highlight these proposals. Unfortunately, no attention has been given to business community’s request as no positive response has been received so far from Federal Finance Minister which has triggered anxiety amongst members of the business community.

KCCI said that business community plays the role of a backbone in country’s economy and they deserve to be treated accordingly for the progress and prosperity of business and industrial activities along with economic revival. There was no harm in holding consultations with the business community prior to formulating various policies, particularly Federal Budget 2014-15. Discussions and consultations can pave way for formulating a flawless budget which will obviously become the key reason for the progress and prosperity of the country, KCCI added.

KCCI, while urging the Finance Minister, to hold this important meeting with business community of Pakistan, underscored that business community’s recommendations for budget must be incorporated in the forthcoming Federal Budget 2014-15 on priority basis as it would help in creating a pro-business environment, enhance tax net, and effectively deal with the menace of smuggling. It will also ensure that wheels of business and industrial activities in the country keeps on spinning at a faster pace.

The post Businessmen unhappy over delay in discussing budget proposals appeared first on Pakistan Press International.

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