Budget criticism: K-P businessmen want tax exemptions, relief packages

Appreciate curb on SROs, provision of NTNs for industrial gas connections.

PESHAWAR: The Khyber-Pakhtunkhwa (K-P) Board of Investment and Trade (KPBOIT), chamber of commerce and textile mills association have taken a united stand against the federal budget, terming some of its parts as “dangerous for the federation”. 

K-P Chamber of Commerce and Industry Chairman Zahidullah Shinwari said at the chamber’s offices that the federal government had asked them for suggestions but, unfortunately, none of their input was taken into account.



However, curbing the issuance of Statutory Regulatory Orders by the Federal Board of Revenue was appreciated by businessmen.

Traders disagreed with tax exemptions provided only to industries in the tribal areas exporting machinery.

Shinwari suggested such exemptions should also be provided to areas adjacent to the tribal areas and also demanded more funds for the development of hydroelectric power projects in the province as it is the only place with adequate resources.

Appreciating some other points of the budget, members of the business community welcomed the withdrawal of the income support levy introduced in 2013 and the condition of having an National Tax Number (NTN) for availing industrial gas connections. They also appreciated expansion of the tax base by bringing the retail sector, including mega departmental stores, into the net.

However, Shinwari said, “The relief packages already provided to the province have also been snatched by the federal government.”

“This is Punjab’s development budget and aims to jeopardise the interests of K-P,” said KPBOIT Vice Chairman Mohsin Aziz, adding whenever Pakistan Muslim League-Nawaz comes into power they destroy K-P’s industries. “Whenever there is a Punjab-dominated cabinet it tries to snatch the few things available in the province as has happened in the current budget.”

He said the province is passing through extremely difficult times with the industry on the verge of collapse and demanded it should be given incentives to revive businesses.

Moreover, All Pakistan Textile Mills Association leader Raza Kuli Khan criticised the increase in the Gas Infrastructure Development Cess on the province’s consumers.

Published in The Express Tribune, June 6^th, 2014.