In a joint press conference, Vice Presidents Asif Sakhi and Aman Paracha, along with Senior Vice President Saqib Fayyaz Magoon of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), harshly criticized the recently presented federal budget, describing it as “directionless and devoid of any clear policy.”
Magoon said, “This budget will not stop the flight of capital,” when speaking in Karachi. There is no plan for exports, remittances, or industrial expansion.
He continued by saying that although Field Marshal Asim Munir had urged businesspeople to repatriate their foreign cash, this budget provides neither a path nor any incentives to support such a move.
The Finance Minister had already promised the FPCCI that “this would be the last IMF program,” Magoon added.
