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FPCCI presents shadow budget for 2014/2015

ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday presented a "shadow budget" for the year 2014/2015 for the first time in its history, ARY News reports from Islamabad.

It is suggested in the budget to slash the sales tax by five per cent to eradicate corruption and for containing the inflation rate.

The shadow budget, announced by the traders' body, can increase the growth rate of Pakistan by seven per cent, business sources said.

It also states that with the traders' recommended budget, trade activities will flourish in the country.

The borrowing of the federal government from world monetary institutions and private banks will also decline if the recommendations of the shadow budget are accepted, traders said.

Traders have suggested to the federal government to end the SRO culture in the country and to accept the suggestions of the traders. It is further said that millions of citizens will come within the tax net if mobile phone users are targeted.

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