FCCI terms federal budget balanced and compressive.

FAISALABAD -- President Faisalabad Chamber of Commerce and Industry (FCCI) Atif Munir Sheikh Friday termed the Federal Budget 2022-23 balanced and comprehensive despite of critical economic situation and hoped that it would not only stabilise national economy but also provide much-needed relief to neglected and deprived segments of society.

After listening Finance Minister's budget speech through projector screen in board room of FCCI here, he was giving his immediate reaction to the media persons.

He said that Pakistan is passing through serious situation and we should not put entire responsibility on the government but support its policies for the economic stability.

He appreciated the trimming of government expenditures voluntarily and said that business community should also emulate slogan of 'Be Pakistani and Buy Pakistani products' instead of consuming costly imported luxury items.

The president said that government had announced reasonable relief for poor segments of society and business community would also play its due role in this noble cause.

Atif said that load shedding had inflicted severe blow to the economy in addition to creating problems for the commoners.

He said that government had proposed tangible measures to enhance power generation to eliminate the load shedding.

He particularly mentioned trimming of government expenditures, doling out subsidy on sugar and flour, reserving 25 per cent quota in financing for females, payment of Rs40 billion refund claims of DLTL and sales tax refund to pharmaceutical sector in addition to cutting down withholding tax at distribution level and hoped that it would accelerate the pace of economic development.

He appreciated the announcement of government to establish four Knowledge Parks and urged to set up at...