PESHAWAR: The business community on Friday said no relief measures were announced for the businesses and industry in the federal budget 2022-23 despite the difficult and uncertain economic conditions in the country.

Speaking at a news conference here, Sarhad Chamber of Commerce and Industry (SCCI) president Hasnain Khurshid Ahmad termed the budget highly disappointing and prepared on the dictation of International Monetary Fund. He said the federal budget wasn’t growth-oriented.

Flanked by chamber’s senior office-bearers, including Imran Khan Mohmand, Javed Akthar, former president Faiz Mohammad Faizi, Industrialist Association, Peshawar president Malik Imran Ishaq, executive member Zahoor Khan and others, the SCCI chief said it was good that the government had proposed new measures to give relief to the business community.

However, he said some initiatives proposed in the budget were insufficient to turn around the ailing economy and flourish industries and businesses.

Mr Ahmad complained their proposals were not incorporated in the budget.

The SCCI chief said 45 per cent hike in electricity tariffs, increase in prices of natural gas and massive hike in oil prices were going to hurt industrial growth, businesses and the economy. He said the government should have provided relief to the business community in the budget to flourish business and industries to create more job opportunities.

Replying a question about the announcement of exemptions on industrial electricity feeders, Mr Ahmad welcomed the proposal and hoped it would be implemented. He also appreciated the alternate dispute resolution council to expedite tax-related cases.

The SCCI chief also hailed the waiving off of regulatory duties on more than 350 items.

Published in Dawn,June 11th, 2022