Budget to be growth-oriented, says adviser

ISLAMABAD: Special Assistant to the Prime Minister on Revenue Haroon Akhtar Khan has said that the budget would be growth-oriented, which will have a special package for industrial revival.

Relaxations would be announced for retail and agricultural sectors, while package for development of Khyber-Pakhtunkhwa and Balochistan, incentives for marble and mining sectors is under consideration, he said.

Khan said this, while talking to a delegation of Businessman Panel of the FPCCI led by its chairman Sultan Chawla.

He said that the budget will result in enhanced economic activities, which will benefit all the segments of the society.

Rumours of imposing Rs400 billion additional taxes were unfounded, he said, adding that the existing taxpayers will not be burdened, while non-filers would face more issues after the budget.  He accepted the proposal to restart ADRC system and reduce withholding tax on certain sectors and assured that the issues of provincial and federal sales tax would be resolved.  Earlier, leaders of the Businessmen Panel presented booklet of their budget proposals to the adviser and expressed concern over audit notices, reduced exports and mounting trade deficit.

They demanded tax incentives to encourage investment in the underdeveloped areas of Fata and KP. The panel also demanded simplification of laws, as it is impossible for many of them to comply with the current revenue laws.  Khan assured that the proposals of oil tankers, chemical and dyes merchant, towel manufacturers, Pakistan poultry, constructors, computers, indenters, hotels, furniture makers, hosiery garments, artificial leather, foot wears, Customs agents, cotton ginners and pharmaceutical associations will also be considered in the budget.

It was proposed that a new revenue authority should be established to cater to the needs of small businesses.  The authority may also be assigned additional responsibility of capacity-building of the small and medium enterprises (SMEs) through training and financing.

They observed that the taxpayers' money is being wasted in futile exhibitions and international visits with no results even it has broken the records of massive corruption and mismanagement in the recent years; therefore, a separate export promotion company should be formed.

Senior Vice Chairman of the panel Mian Zahid Hussain, Secretary General Senator Haji Ghulam Ali, Main Anjum Nisar, Zakria Usman, Mirza Abdul Rehman, Naveed Jan Baloch, former federal minister Ch Mushtaq Ali Cheema, VP-FPCCI Riaz Khattak, Saquib Fayyaz Magoon, Khurram Ijaz, Shaukat Ahmed, Mian Lateef, Khurram Saeed, Farrukh Maqbool, Aslam Khan Niazi, Fehmida Kouser Jamali, Ch. Muhammad Hussain Zahid, Jawed Siddiqui, Zahid Saeed and others were also present on the occasion.