KP govt invites business community’s budget proposals for 2023-24

FPCCI stresses hydro-power plants, tourism sector and food safety should be prioritized in next provincial budget

Peshawar     -    The Khyber Pakhtunkhwa caretaker government has sought proposals from business community and relevant stakeholders before the budget making process for next financial year. In this regard, a preliminary pre-budget meeting of the Khyber Pakhtunkhwa Budget Advisory Board was held here in the provincial Finance Department. The meeting was chaired by Advisor to Chief Minister on Finance Himayatullah Khan, on Tuesday.

The meeting was attended by provincial caretaker minister for Industries and Technical Education Adnan Jalil, officials from all line departments, Regional Coordinator Federation of all Pakistan Chambers of Commerce and Industry (FPCCI) Sartaj Ahmad Khan, members of the business community, senior officials of the concerned departments and relevant stakeholders and others.

The purpose of the meeting was to take inputs from all the line departments, business community and relevant stakeholders to submit proposals for the Financial Year Budget 2023-24. The Advisor to CM on Finance Khan, speaking on the occasion, said that government will give due importance to the proposals of business community which will be incorporated in the upcoming provincial fiscal budget.

He added the caretaker government will try its best to present a pro-poor and business-friendly budget for the next financial year. Participants earlier in the meeting gave several proposals and asked to make it part of the forthcoming provincial budget for FY2023-24.

The FPCCI Coordinator Sartaj Ahmad said that economic growth rate has not increased in the annual budgets for the last several decades, because it was not priority of our rulers, owing to which we cannot take advantage of abundant opportunities available in the country and are still begging the IMF for loans for economic stability in the country, he maintained.

He added time has come to focus on the budget making to revive the war-battered economy, businesses, trade and export of the country with sincerity. Sartaj suggested that a proportion of 20 percent funds should be allocated for the promotion of economic and trade activities in the forthcoming provincial budget. “Special budgetary measures should also be made to boost-up mutual trade between Pakistan and neighbouring Afghanistan and onward to Central Asian Republics,“ he said.

The FPCCI Coordinator also stressed that the hydro-power plants, tourism sector and food safety should be prioritized in the provincial forthcoming budget so through these measures, Khyber Pakhtunkhwa may become an economically viable and self-reliant province in the coming years, he hoped. Sartaj further said that women were engaged in handicrafts and other business activities in Khyber Pakhtunkhwa.

He also suggested that appropriate funds should be allocated in the budget for setting up women business development centres in remote Chitral district and other parts of the province to promote the skills in an affluent manner.

In the provincial budget, the FPCCI Coordinator said that land should be allocated for the establishment of an international standard Gems City, because the development of the precious stones and gems sector may bring an economic revolution in the minerals rich Khyber Pakhtunkhwa province.

On the occasion, President of Charsadda Chamber of Commerce and Industry Sikandar Khan, Peshawar Small Chamber former president Khalid Farooq also emphasized the need to work for economic development and improving the corruption free taxation system.

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