The president of KATI emphasizes the “lack” of facilities and incentives for the industrial sector in the budget – Business and Finance

KARACHI: Korangi Association of Commerce and Industry (KATI) president Johar Qandhari has expressed strong criticism of the federal government’s latest budget, highlighting the complete lack of facilities and incentives for the industrial sector.

Qandhari expressed disappointment, noting that the budget did not take into account the development needs of the industry and did not provide any strategy to reduce production costs or energy prices. Qandhari pointed out that the budget includes an unprecedented 40% increase in the lump sum for exports, which has raised serious concerns in the business community.

He stressed that the burden on existing taxpayers has increased without adequate efforts to expand the tax net. The lack of investment support measures combined with increased taxes and duties on raw materials will lead to higher product prices and inhibited industrial development.