Businessmen reject proposed mini Budget for year 2013-14 by Interim Government

Karachi, May 24, 2013 (PPI-OT): Parton-in-Chief KATI, S.M.Muneer, Chairman, Mohammad Zubair Chhaya, and Vice Chairmen, Najmul Arfeen and Niaz Ahmed has rejected proposed Federal Mini Budget for the year 2013-14 by the Interim Government. In a joint press statement, they said that at the time when the newly elected government will be formed soon, the promulgation of mini budget is inappropriate and untimely. This matter should be left to newly formed political government.

They said we cannot expect development by neglecting economy of the country. A considerable amount is wasted due to corruption. At this stage, increase in sales tax from 16% to 17% is put additional burden on the business community who is already paying their share of taxes. This additional burden will ultimately pass on to the consumers and price hike would be inevitable.

They said that business community is engaged in economic development of the country by increasing exports. The industry is already suffering due to shortage of electricity and gas.

They suggested that industrialists and traders should be invited before making policies relating to revenues so that better impact of these policies will be seen. They said that if our government work on the right direction then economy of the country will be stable.

For more information, contact:
Abdul Wahab
Press Secretary KATI
Korangi Association of Trade and Industry (KATI)
ST-4/2, Sector 23, Korangi Industrial Area,
Karachi 74900
Tel: +9221 3506 1211 -2
Cell: +92346 2012346
Fax: +9221 3506 1215

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