FPCCI President Concerned Over Development Budget Reduction

Atif Ikram Sheikh, the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has voiced concerns regarding the reduction of 100 billion rupees in the development budget compared to the current fiscal year.

Sheikh stated that a development budget of 1500 billion rupees was anticipated for the upcoming financial year.

He emphasized that increasing both federal and provincial development budgets is crucial for sustaining economic recovery.

The FPCCI President asserted that improving infrastructure is essential to establishing a robust and enduring economic base for Pakistan.

Sheikh suggested that elevating the development budget would stimulate local production and generate employment opportunities.

Atif Ikram Sheikh acknowledged the government’s challenges but maintained that an increase in the development budget is feasible.

He underscored the importance of the government ensuring a considerable boost in budgetary allocations for the defense, education, and healthcare sectors.

Sheikh concluded by urging the government to provide relief measures for industries within the budget and to bolster support for traders and investors to restore confidence in the economy.