ISLAMABAD: While expressing concerns over the state of the country’s economy, the business community has demanded the government devise a long-term strategy to prevent such a crisis in the future.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh has slammed the PMLN-led coalition government for taking such anti-industry measures without any consultation with the key stakeholders.

“The ambiguity, secrecy and confusion related to IMF deal have created mistrust among the stakeholders against the government,” he said, adding the stakeholders are the people of Pakistan and the business community.

“This secrecy will hurt the businesses, the public and eventually the country – we will not be able to recover anytime soon despite these measures,” the FPCCI chief said.

Meanwhile, Karachi Chamber of Commerce and Industry President Mohammed Tariq Yousuf termed the mini-budget as a bitter pill.

“Prevention is better than cure, why did we end up here?” he asked, demanding the government devise long-term economic policies.

Islamabad Chamber of Commerce and Industry president Ahsan Bakhtawari said the country needs a comprehensive “Charter of Economy” to be acceptable to all political parties but it should be devised in consultation with all sectors of trade and industry.

The traders on the other hand have taken strong exception to the mini-budget calling it a “drone attack by Dar” on the Pakistani nation.

The All Pakistan Anjuman Tajran and Traders Action Committee have rejected the mini-budget saying taxes are paid by the businessmen and industrialists but they are always vulnerable to harassment by the Federal Board of Revenue officials.

APAT chief Ajmal Baloch said it was high time to curtail the privileges and benefits enjoyed by serving and retired bureaucrats and other government officials.

Association of Builders and Developers chairman Altaf Tai has turned down the fears attached to the mini-budget and said that the key focus of new taxes and duties has been on the high-end and non-essential products.

Published in Dawn, February 16th, 2023