KPCCI rejects federal budget, terms hostile to masses, industrialists

Wadood Jan

PESHAWAR: Khyber Pakhtunkhwa Chamber of Commerce & Industry (KPCCI) on Tuesday unanimously spurned the federal budget for the year 2019-20 and termed hostile and antagonistic to masses and industrialists.

Soon after, the State Minister Hammad Azhar presented the federal budget 2019-20 in National Assembly, the KPCCI president Faiz Muhammad Faizi, members of the chamber and office bearers of various trade unions disapproved the budget and said that it was budget designed and dictated by the International Monitory Fund.

Speaking on the occasion, here at KPPCI building, the president Faiz Muhammad Faizi said that with the current federal budget the inflation has increased more by 9.1 percent.

“The foreign investment was already 52 percent and in the current scenario of the federal budget would drop further,” he said and added that taxes on various commodities have been increased which would directly affect the general and especially poor masses of the country.

He stated that Small and Medium-sized Enterprises (SMEs) have been ignored in the budget.

“Non developmental funds should be abolished,” he asked the government, adding that volume of developmental budget was very low.

He presented a tribute to Pakistan Army for decreasing its allocations and stated that the decision of army was pleasant.

“Federal secretaries’ and concerned officials’ salaries were increased by 25 percent it was expected to be decreased,” he lamented.

He added that KP was given no relief in the budget while they had asked the federal government to give KP relief for at least five years equal to merged districts or less but a comfort should s be announced for KP.

“KP was terrorism affected province and had suffered immensely and was fighting the war against terrorism in front line but regrettably no alleviation was announced this destitute province,” he stated and added that KP was also facing issues like Balochistan.

He maintained that taxes has been imposed on every sector and asked the government would it advised them on how would they grow their industries and generate revenue.

“Export with Afghanistan and Middle East had to be addressed in the budget but it was dumped,” he said by adding that industry had already been collapsed which was relying on export with Afghanistan and needed a rescue.

“To run a business has become almost impossible because the government has imposed even taxes on retails, he asserted.

Member of KPCCI Ilyas Ahmed Bilour also spoke on the occasion and said that he presents a tribute to the people of KP as they had voted Pakistan Tehreek-e-Insaf but received this crushing budget in return.

“Prices of commodities have been increased to great extent by the federal government in the recent budget and it would only affect poor people,” he said and added that PTI’s ‘Ibn-e-Sina’ Asad Umar could have communicated with IMF ahead of rising value of dollar and inflation.

Office bearers and members of KPCCI said that every person wanted to pay taxes but in return they wanted facilities.

“This federal budget was a bombardment of taxes,” they said and added that no plans in health and education were announced.

They stated that budget was design under some special agenda  to push back the investors and end the available opportunities of investment in the country.

“Rs.1400 Billion worth taxes imposed by the government would be paid by the general masses,” they said by adding that people would now face a hell of inflation.

“collection of Rs.5555 Billion taxes is impossible,” they stated and added that Rs.925 Billion have been allocated in terms of PSDP which was very low.

They said all imposed taxes are indirect taxes and would only affect poor masses of the country.

They rejected the federal budget 2019-2O and said that it was general masses, industry and SMEs unfriendly budget.