Upcoming federal budget to be traders-friendly, says Abdul Hafeez Sheikh
KARACHI: Advisor to Prime Minister on Finance Abdul Hafeez Sheikh on Tuesday said that the federal budget 2020-21 to be presented on June 12 would be traders-friendly and comprise relief for masses.
He said this while addressing a meeting of a delegation of Karachi Chamber of Commerce and Industry headed by Chairman BMG Siraj Qasim Teeli through video link. During the meeting, he said that several suggestions of the KCCI were included in the upcoming budget.
Abdul Hafeez Sheikh despite limited resources and financial challenges the government stood by traders. He said the government was providing maximum relief to trader fraternity during trying times. The government was considering to raise refunds from five million to 50 million rupees.
Separately, while chairing a meeting with a delegation of the Farmers Associates Pakistan (FAP) in Islamabad, Dr Abdul Hafeez Shaikh has assured full support to a targeted disbursement of the Rs50 billion agriculture package recently announced by the government for the farmers and crop growers.
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“The government has approved this package with a view to extending relief to the farmers community and its direct disbursement to the farmers and crop growers remains a key objective of the government,” he said.
Dr Abdul Hafeez Shaikh welcomed various proposals and recommendations put forward by the delegation regarding extending direct relief to the farmers, including possible reduction of electricity tariff for tube-wells, reduction of import duty on fertilizers, reduction of mark-up and waiver of agricultural loans, deregulation of the import and export of agriculture products and livestock.
