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Thursday April 18, 2024

Incentives for women entrepreneurs sought in upcoming budget

By Afshan S. Khan
June 01, 2023

Islamabad:The Islamabad Women's Chamber of Commerce has demanded incentives for businesswomen in the upcoming budget.The dream of national development can never become a reality by keeping the majority of the country's population away from economic activities, it said. In its budget proposals, the IWCCI has demanded an increase in the taxable income limit for businesswomen, saying that it will encourage them to join the document economy.

The founder president of the Islamabad Women's Chamber Samina Fazil said in the budget proposals sent to Finance Minister Ishaq Dar, that reports of heavy taxation on various sectors are disturbing. Enhanced taxes will hurt the weak economy and reduce revenue rather than increase it, she said. Samina Fazil demanded that the obstacles in the way of women's development be removed, and they should be provided with a better environment for business so that they can play a positive role in the development of the country.

She further said that the taxable income limit of women should be increased from five hundred thousand to fifteen hundred thousand to encourage them to become part of the document economy. In addition, women entrepreneurs should be given a 30% share in the fund allocated for the development of exports so that they can develop their businesses, she added.

She said that every year millions of girls complete their education, but there are fewer employment and business opportunities for them, which should be given attention for rapid national development. Women entrepr­eneurs should be facilitated in business knowledge, affordable finance, skill development, and digital technology so that they can play their due role in economic development.