Hafeez Shaikh asks business community to come up with budget proposals

ISLAMABAD: A group of traders and industrialists on Wednesday called on Adviser to Prime Minister on Finance Abdul Hafeez Shaikh and apprised him of the economic crisis faced by the large scale manufacturing sector amid ongoing coronavirus lockdown, ARY NEWS reported.

During the meeting, the traders said that large scale manufacturing sector was facing an economic crisis and its trickledown effect would also impact labourers.

“The government should take steps to resolve issues pertaining to liquidity in the market,” they said as adviser on commerce, chairperson FBR, secretary finance and other officials listened to them.

Abdul Hafeez Shaikh divulged details of Rs1240 billion economic relief package approved by the government and further said that the State Bank of Pakistan (SBP) was also working on financing schemes.

He asked the business community members to share their recommendations with the federal government for the upcoming budget.

It is pertinent to mention here that the federal government will unveil the budget for the next financial year 2020-21 on June 12. Prime Minister Imran Khan has granted approval for presenting the budget in the National Assembly on June 12.

During the meeting, it was suggested that large scale manufacturers should work on acquiring new orders from United States (US), China and other countries.

“The manufacturers should come up with recommendations so that a policy could be devised to ensure acquiring orders from abroad,” said Adviser on Commerce Abdul Razak Dawood.