Islamabad, May 03, 2016 (PPI-OT): Small traders have lauded the stabilisation agenda of the government which has resulted in IMF assessment that Pakistan will not require a new programme once the present one ends.
With the budget preparations in full swing, the assessment of the lender is heartening and encouraging for the business community, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.
Now government should focus on large gaps in the implementation of structural reforms which are imperative to keep country free of interference of foreign lenders, he added.
He said that serious efforts are needed to widen tax base and put burden of tax on all sectors according to their share in the GDP.
Shahid Rasheed Butt said that government should not go for populist measures in the upcoming budget due to growing political crisis which has threatened political and economic stability of the country.
The macroeconomic position is good at the moment while forex reserves are stable and fiscal deficit seems to be well in control, he noted.
He said that continued decline in exports should be tackled otherwise the gains achieved through difficult decisions would hit the budget resulting in hefty cut in social spending.
Government should prefer direct taxation, not go for further cut in social spending and avoid introducing new taxes in the forthcoming budget which will make it difficult for oppressed class to lift itself out of the poverty.
For more information, contact:
Islamabad Chamber of Small Traders and Small Industry
Office No, 9 Block E, Super Market, Islamabad