LCCI urges to rethink budgets

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the national and provincial assemblies to take remedial measures through quick consultation with the business community well before the approval of the federal and provincial budgets for the financial year 2019-20.

LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir, and Vice President Faheem-ur-Rehman Saigal, who had earlier called the federal budget a balanced document, said “We have to rethink on some aspects of federal and provincial budgets to generate economic opportunities.”

They said that rectification in federal and provincial budgets could be made without harming the government’s endeavours of economic revival. These remedies would be equally beneficial for the government and the private sector.

About Punjab Budget, the LCCI office-bearers said that more allocation was needed in Public Sector Development Programme. There was time till the budget was approved. “Punjab government has Rs200 to Rs300 billion surplus and some part of it should be added to the PSDP,” they added.