KARACHI, Sept 17: Irked by the ‘budget anomalies’, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday threatened nationwide strike if the government did not accept its demands by September 30, 2013.
FPCCI President Zubair Ahmed Malik termed the federal budget 2013-14 ‘harsh’ and was highly critical about the government’s attitude for not living up to the expectations.
The FPCCI chief addressing a hurriedly called press conference at the Federation House said: “Despite holding a number of meetings including one with Finance Minister Ishaq Dar last month, no progress has so far made in resolving issues confronting the trade and industry.”
“The level of confidence on the government has dipped and there is a growing feeling that the PML-N government does not have the capability and capacity to resolve issues confronting the nation,” he said.
The FPCCI president said that real estate prices in a short period of one month have tripled and there is a flight of capital from the country.
“Even then the State Bank of Pakistan has increased policy rate by 50 basis points to 9.5 per cent. This will push inflation higher by 2.5pc and as a result will jack up consumer price index which will increase poverty,” he said.
He warned that if the ‘directionless’ budget 2013-14 is left in its original form, it would prove to be disastrous for trade and industry.
At the conclusion of the press conference, a copy of resolution unanimously adopted by the FPCCI’s Executive Board earlier in the day, was distributed to the media.
The resolution states: “Resolved that despite having shown utmost restraint the government has not come up with any solution to the problems caused to trade, commerce and industry of the country by passing a very harsh and unrealistic budget 2013-14 without taking the apex body of trade and industry into confidence.”
Malik was accompanied by former FPCCI presidents Tariq Sayeed, S M Muneer, Iftikhar Ali Malik and sitting vice presidents Azhar Saeed Butt, Gulzar Feroz, Zakaria Usman, Naveed Jan Baloch, Shaheen Ilyas Sarwana and Rukhsana Jhangir.
