Businessmen expect a ‘pro-business’ budget

Also hope govt will restore investor confidence in country’s economy.

FAISALABAD:

The newly elected government will confidently present a business-friendly budget, and the revival of the economy will gain pace, said president of the Faisalabad Chamber of Commerce and Industry Mian Zahid Aslam on Saturday.

The body representing the business community of Faisalabad congratulated Mian Nawaz Sharif to be elected as the prime minister of Pakistan and his cabinet for the unprecedented third time in the history of the country.

The businessmen expressed hope that the new government will perform better than the expectations of the people to steer the economy out of the pileup of challenges that the economy currently faces, while also providing relief to the common man.

Aslam said that all segments of the community, including businesses, small and big traders, industrialists and the people, were happy and hopeful than an era of reconstruction of the Pakistani economy will begin soon that will lead to prosperity.

President of the FCCI went on to say further than the forthcoming budget was the first one to be presented by the government, and hoped that the budget will be pro-business and will focus towards revival of the country’s faltering economy. Proposals from all chambers and other stakeholders had already been sent to the government, which must be taken into consideration for the framing of the annual budget 2013-14.

Pakistan’s economy had suffered a contraction of 2-3% from its true growth potential annually due to the energy crisis, and the government should allocate sufficient amount to at least bridge the current shortfall of 5,000-6,000 megawatts in the system for the first phase.

Most analysts believe that only the resolution of energy crisis will bring the economy back on the path of economic growth.

FCCI’s president proposed that the government should be convince foreign investors to invest in the power sector and launch profitable projects for electricity generation through coal and other alternative energy sources.

Published in The Express Tribune, June 9^th, 2013.

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