Businessmen concerned over revenue shortfall, increased borrowing: Mian Zahid.

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said business community is concerned over massive revenue shortfall and increasing debt burden.

The government can bridge the revenue gap through a mini-budget or rationalize the import tariff to boost economic activities which will generate revenue, he said.

Talking to the business community, the veteran business leader said that despite the best efforts of FBR, the revenue shortfall for seven months has jumped to Rs387 billion while the shortfall for January was Rs104billion.

He said that revenue cannot be enhanced in an unfavourable environment while highhandedness of the tax collectors takes a toll on the investment climate and lead to street protests.

The former minister noted that mini-budget will be counterproductive as masses cannot endure more burden while the business community cannot help the government bridge the shortfall.

Therefore, he said, the import regime should be relaxed to improve...