Nothing in the budget to start a Corona-affected economy

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Nothing in the budget to start a Corona-affected economy, business leader

Baaghi TV: Business leader Mian Zahid Hussain has termed the budget of the federal government as the budget of the states and said that there is no step to restart the economy after Corona.

Reacting to the Pakistan Tehreek-e-Insaf (PTI) presenting its second budget by the federal government, Mian Zahid Hussain, former chairman of the Korangi Association of Trade and Industry (KATI), said it was a status quo budget. There is no specific direction, there is nothing in the budget to start the economy after Corona.

Talking to a private TV channel, he said that there was a demand for zero rating and nothing was seen on it which we had to do. There was no special measure in governance. The sectors, particularly the Federal Board of Revenue (FBR), have outlined specific measures that may not seem good to the business community, but will look into the details.

A budget meeting of the National Assembly was held under the chairmanship of Speaker Asad Qaiser in which Prime Minister Imran Khan also participated. Federal Minister for Industries and Production Hamad Azhar presented a budget of Rs 71.30 trillion for the next financial year 2020-2021. Eleven percent less than the previous financial year.

Hamad Azhar said that the current account deficit has reduced by 73% during the current financial year, the PTI government has reduced the trade deficit by 31%, the trade deficit has been reduced by 21% in 9 months, the trade deficit is less than 21 billion. With 15 billion, FBR’s revenue increased by 15%.

The total volume of the budget has been kept at Rs. 71.30 trillion, the total revenue has been estimated at Rs. 63.14 trillion, the revenue from revenue has been estimated at Rs. 36.99 billion, development expenditure has been estimated at Rs. 70 billion in the budget.

Institutions were reformed, privatized where necessary, Pakistani products in the name of Made in Pakistan were introduced in the world markets, refunds of Rs. 254 billion were issued to the business community, pension system was reformed, 35 institutions It has been recommended to merge with other institutions, reforms have been made to restructure the management structure of Ehsas, 820,000 fake people have been removed from Ehsas program.

Steps taken to develop business and industry, Pakistan was put on the grey list in June 2018, Pakistan ranked 108th out of 190 countries in the Ease of Doing Index, the task force recommended reforms in the privatization of 43 enterprises 8 In the Easy Business Index, Pakistan improved from 136 to 108.

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