Iftikhar Malik Terms Federal Budget 2023-24 As Balanced, Export-oriented

Former President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Friday termed the federal budget 2023-24 in the prevailing scenario as balanced, growth and export-oriented with a basket of attractive packages of incentives to accelerate the economic activities across the country

ISLAMABAD, (UrduPoint / Pakistan Point News - 9th Jun, 2023 ) :Former President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik Friday termed the Federal budget 2023-24 in the prevailing scenario as balanced, growth and export-oriented with a basket of attractive packages of incentives to accelerate the economic activities across the country.

Commenting on the federal budget, he hailed the epoch-making historic reforms for ease of doing business, said a press release.

He said that the remarkable measures announced in the budget would help set a proper direction for the national economy to flourish in the days to come as well as ameliorate a lot of poor segments of the society.

He said economic indicators would show an upward trend and GDP growth improve significantly with better remittances.

Appreciating the wise decision of Prime Minister Shehbaz Sharif he said would ultimately provide solace to the businesses community, while a cushion of packages would help accelerate the economic activities in the country and boost exports.

Iftikhar Ali Malik said that Pakistan's economy was going through a challenging phase due to global warming and the Russia-Ukraine conflict adding that manufacturers, traders, retailers, importers, exporters and other business communities were in distress and facing huge financial losses due to the current political upheaval.

However, he said the government took extraordinarily bold decisions to overcome this crisis.

He said it was the need of the hour to use modern techniques for increasing the per-acre yield, adding, the government allocated record funds for the research and development activities to put the agri-sector on modern scientific lines by using hi-tech hybrid seeds.

Iftikhar Ali Malik hoped that all irritants if any in the budget would be removed to the satisfaction of the business community which was the source of the financial strength of the government.