Staff Report – June 08, 2020
Karachi: President of Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan has urged to reduce government expenditures to minimum possible level for the betterment of common people and national economy. He demands that budged should be industry friendly.
He said that particularly non developmental expenditures should be lowest as possible because in the time of crisis, prevailing due to economic hardship of coronavirus pandemic we cannot afford this.
He was of view that the share of 57.50 pc which provinces get from the national financial resources, measures must be taken to assure that these resources would only be expended for betterment of people, reducing unemployment and especially in health and education sector. He also suggested that to maintain lower governmental expenditures this year no any raise should be made in salaries of federal and provincial employees.
Sheikh Umer Rehan said there is need to make simple taxation system and in this regard FBR should take all stakeholders into confidence. He was of view that the biggest hurdle in the way of industrial growth is increasing production cost which can be cut by lowering energy and raw material prices, “only the industrial growth can provide solution to many economic challenges so this would not be a big deal to provide it relief” he added. He urged that budged should be industry friendly.