Business community terms federal budget 2022-23 as balanced.

RAWALPINDI -- The Rawalpindi Chamber of Commerce and Industry (RCCI) has termed the fiscal budget 2022-23 balanced under a challenging economic environment.

RCCI President Nadeem Rauf, while giving remarks after the budget speech, said the fixed tax scheme for small traders would increase the tax net.

Nadeem said that the announcement of setting up Alternative Dispute Resolution Committees (ADRCs) for resolving tax disputes was a welcome step; however, the business community has reservations about setting up a 100 million limit and mechanism.

While lauding the tax exemption on solar panels, he said that it would ease the load on power management and termed it an environmentally friendly initiative.

He hailed the allocation of a significant amount of Rs 364 billion for Benazir Income Support which would provide relief to the marginalized sections of the society.

For those earning less than Rs 40,000, a monthly announcement of Rs 2,000 is also a welcome step, he added.

He also lauded the announcement of incentives for the IT and textiles sector, adding five to ten years of tax rebates on IT sector investments would strengthen these...

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