Govt did not live up to expectations, say traders

Islamabad : President Markazi Tanzeem e Tajran, Muhammad Kashif Chaudhry on Saturday said the Government did not live up to the expectations of the traders community while announcing the federal budget for fiscal year 2020-2021.

Addressing a press conference here, Kashif Chaudhry said the Government did not impose new tax but at the same time no relief package was given to the traders’ community.

He pointed out that instead of announcing measures for revival of industry and trade, the government set unrealistic revenue targets. “We were expecting the government to announce revolutionary steps keep the industry and trade but the same was not done," he said.

Kashif said the government should have done away with withholding tax while reducing the interest rate to 4 per cent gradually it should be brought to zero. He also suggested interest free loans from Rs0.5 million to Rs50 million to the traders.