Lahore, May 29, 2012 (PPI-OT): Pakistan Industrial and Trader Association Front (PIAF) has demanded of the government to make the federal budget 2012-13 business friendly as the economic indicators are portraying a gloomy picture that is not a good omen for the national economy at all.
In a press statement issued here Tuesday, PIAF Chairman Sohail Lashari said that Budget-2012-13 should be friendly for the trade and Industry and should also be tax free otherwise it would fail to generate much needed results for the government.
Engineer Sohail Lashari said that unprecedented energy crisis, heavy bank borrowings, complex taxation system, repeated increases in electricity rates, inflation, unemployment, law and order, unemployment and high cost of doing business have pushed the economy to the wall.
He said that the government would have to allocate sufficient funds for Kalabagh Dam, Thar Coal Project, and early completion of Pak-Iran Gas Pipeline project.
PIAF Chairman urged the government allocate funds for Kalabagh Dam in the federal Budget 2012-13. He said that construction of Kalabagh Dam was a must to ensure availability of water to the agriculture sector and cheaper electricity to both the trade and industry of the country.
He said, in this regard, the government should develop consensus among and the federating units by convincing them that this was the only way out of ongoing power crisis. He said that government should also launch coal based power projects.
PIAF Chairman urged the government to pave way to get rid of foreign loans and evolve comprehensive strategy to utilize the resources available in the country. He said that government should restructure the public sector enterprises that are eating up billions of rupees annually.
He said that power theft was continued in the name of line losses with the connivance of officials. He demanded of the government to end the power theft with iron hands and official involved should be punished.
He urged the SBP to bring down the markup rate to the single digit.
He said that government should also cut in the expenditures of government. He said that though the country was under the heavy burden of internal and external loans but government was busy to make the size of federal cabinet larger. He said that number of ministers in India, China and USA is less than the Pakistan.
PIAF also urged the government to eliminate of menace of corruption that has tarnished the image of the country.
For more information, Contact:
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Phone: (92) 42 5123522
Fax: (92) 42 5123522