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PCJCCI Lauds PTI Govt For Tax-Free Budget, Concerned Over Ignoring CPEC

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LAHORE– The Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) conducted a meeting Thursday with the executive committee to share views regarding the budget 2020-21.

Zarak Khan, President PCJCCI said that, the government did its best by providing a tax free budget but the projects under the CPEC were slightly ignored.

He also said that, no special policy has been announced to improve exports and to remove the hurdles that hampering growth of export sectors. The economy of Pakistan is rotten and it is the duty of both government and private sectors to join hands for its betterment and development.

Mr. Moazzam Ghurki, Senior Vice President PCJCCI, shared his views by saying that, Pakistan’s Public Sector Development Programme (PSDP) has allocated for the year 2020-21,  Pakistani Rs 21 billion for projects under China Pakistan Economic Corridor (CPEC). Except a few major road and rail projects under the CPEC, the PSDP does not allocate money for any other contemporary scheme.

There is no mention of any allocation for any of the much-discussed industrial zones, which were to be established under the CPEC for industrial and economic growth of the country. He further added that, “The government has shifted the blame on Covid-19 for all ills of the economy, but before the pandemic the economy was already on the ventilator, He said that Pakistan’s economy is being run on foreign as well as domestic loans and no measure has been provided to reduce the burden of loans.

Mr. Salahuddin Hanif, Secretary General PCJCCI said that, we were expecting some fruitful decision regarding CPEC to improve the economy of the country, was expecting withdrawal of discretionary powers and special policies for Halal Food and Information Technology sectors. He welcomed allocation of funds for power & water projects and agriculture sector.— PRESS RELEASE