Islamabad Industrial Association (IIA) President Muhammad Ahmed, Sheikh Atif, Farid Akram, and others hold a press conference regarding the budget.

Islamabad Industrial Association (IIA) President Muhammad Ahmed, Sheikh Atif, Farid Akram, and others hold a press conference regarding the budget.

President Muhammad Ahmed of the Islamabad Industrial Association  (IIA) said on Friday that the budget is average for the industrialist community.

While appreciating the budget, it was stated that IT, SME, solar, and agro-based industries will thrive after receiving tax exemptions, reduced tax tariffs, and minimum documentation requirements.

Addressing the post-budget press conference, Muhammad Ahmed Waheed said that a super tax has been imposed on income exceeding Rs150 million, which was previously Rs300 million, and applied to only ten sectors, including banking. This goes against the claim that no new tax has been imposed.

Leaders of IIA, including Usman Shaukat, Khalid Jaweed, Mian Akram Farid, Atif Ikram Sheikh, Tariq Sadiq, MianWaqas Masood, Zakria A Zia, Aamir Waheed, MirzaMuhammad Ali, Malik Sohail Hussain, Naeem Paracha, and others were present at the occasion.

They stated that the energy tariff for the industrial sector is excessively high, resulting in increased costs of doing business. This compels the sector to use energy-efficient devices. However, the duties and taxes have been increased, which is disappointing