ISLAMABAD:The Secretary General of OICCI (Overseas Investors Chamber of Commerce and Industry) Abdul Aleem on Friday said that the government’s announcement of positive measures for the Information Technology (IT) and agriculture sectors, as well as the promotion of Small and Medium Enterprises (SMEs), is commendable.
He also expressed support for the increase in salaries and pensions of government employees, considering them justified.
However, in a statement Abdul Aleem noted that upon the initial assessment of the budgetary tax measures, it appears to be an interim budget with short-term measures focused on specific sectors, lacking comprehensive measures to stabilize the economy.
He pointed out that there were no specific measures announced to support the revenue targets of Rs 9.2 trillion, nor were there bold steps to broaden the tax base in the country.
Additionally, Abdul Aleem mentioned the absence of measures to incentivize investment in manufacturing and other job-creating sectors.
He also stated that there were no special measures announced to attract large foreign investments.
Overall, while appreciating certain aspects of the budget, Abdul Aleem highlighted the need for more comprehensive and
long-term measures to strengthen the economy, expand the tax base, and encourage investment in various sectors.