Govt to provide maximum relief to businesses in upcoming budget: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh on Wednesday said that upcoming budget was being designed in a way to provide maximum relief and incentives to the businesses and promote trade by reducing tariff on a large number of items of raw material, ARY News reported.

Speaking during a virtual discussion with the office-bearers and members of the US-Pakistan Business Council here at the Finance Division, Hafeez Shaikh said that the business environment in Pakistan facilitated by a greater ease of doing business, improved regulations and huge market potential, was ideal for investment and joint ventures by the US businessmen.

He said that the government had recently announced a Rs 1.2 trillion stimulus package that included direct cash transfers, payment of tax refunds, subsidized credits and payroll loans, to shore up the economy and boost businesses.

On the occasion, Shaikh said that Pakistan appreciates the support extended by the US in FATF, COVID-19 and debt relief from the G-20 countries.

“We value our relationship with the US particularly the business collaborations which have a great potential of growth given the opportunities for business and investment available in Pakistan,” he added.

The adviser conveyed heartfelt sympathies from the government and the people of Pakistan on the loss of precious lives in the US due to COVID-19 pandemic.