- Advertisement -
KARACHI, Jun 12 (APP):Karachi Chamber of Commerce and Industry (KCCI), on Wednesday, appreciated government’s commitment towards development of information technology sector, digitization of economy and export facilitation.
These views were expressed by President KCCI Iftikhar Ahmed Sheikh, Chairman Businessmen Group Zubair Motiwala, and other leaders of business community here at a press briefing on budget 2024-25.
They were of the opinion that a thorough analysis of the budget initiatives could be done after reviewing details and technical aspects of all budget and taxation measures and their impacts on business and industry.
They said that Federal Minister for Finance Muhammad Aurangzeb has announced measures for power tariff rationalization which was a positive step but gas tariff should also be rationalized to support the industry.
They underscored the need of monitoring of public sector expenditure and said that creation of an expenditure monitoring system was a positive and much needed step.
They also lauded budget proposal for allocation of Rs79 billion for Information Technology sector and IT Parks in Karachi and Islamabad as well as measures for promotion of Artificial Intelligence and said that IT and AI were fast developing sectors and leveraging from the modern technology is need of time.
They stressed on the need of reviewing taxation regime for IT sector and said that a comprehensive framework should be framed in consultation with all the stakeholders.
Supporting government initiative for digitization of economy he said that every one who is earning in Pakistan should pay taxes but there must be a holistic taxation system with across the board approach.