Trading community gives mixed reaction on federal budget 2016-17

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RAWALPINDI, June 4 (APP): Trading community here on Saturday gave mixed reaction on federal budget presented by Minister for Finance Senator Mohammad Ishaq Dar in the National Assembly for financial year 2016-17.

Talking to APP, Mohammad Faisal a trader of tench Bhatta said that concrete steps are being taken to broaden the tax base which will help strengthen the economy.

He said Finance Minister while delivering the budget speech at the National Assembly announced relief for farmers in fertilizers’ price and power bills which will help increase agriculture production. Measures have also been taken for poverty alleviation, promotion of exports and jobs creation which will help boost economic development.

He said though, the expansion in tax net will boost the revenue collection with positive impact on national economy and development as more funds will now be available for the uplift projects. But, he said, a large number of people in the country are not paying tax according to their wealth that is why the economy is under financial constraint.

Altaf Siddique a businessman said, huge incentives have been announced to boost industrial sector. He said, it was a short budget speech and details of the proposed plans and targets could not be clearly presented.

Appreciating the salary increase of government employees he said the salaried class would get relief to this step.

Pensioners have also been provided relief which will help mitigate their problems, he added.

President Anjuman-e-Tajran People’s Colony, Muhammad Zahid said that it is not a good budget as various segments of society including trading community could not be provided relief.

He said, the tax payers should be given more incentives and they should be encouraged.

President, Anjuman-e-Tajran Tench Bhatta, Saleem said that the budget is not according to the expectations of the trading community.

Usama, a trader said, the budget speech was not in detail due to which people were unable to understand the difference between past and present budget.

He said, the budget announcements would not change the financial condition of the economy as the set targets of the previous year were also not achieved.