MULTAN: The Multan Chamber of Commerce and Industry (MCCI) on Friday termed budget 2022-23 a good effort of the incumbent government under the prevailing scenario and welcomed the tax on affluent class by terming it the need of the hour.
Talking to media after watching budget speech of Finance Minister Miftah Ismail on television at MCCI committee room, MCCI President Khawaja Muhammad Hussain said that the initial perception was that the budget looked good but the ace body of south Punjab industrialists and business tycoons would give a detailed reaction after thorough study of the budget document.
MCCI Senior Vice President Suhail Tufail, Vice President Naveed Iqbal Chughtai, Convener Tax Committee Younis Ghazi, other office bearers and noted businessmen and traders discussed the budget speech and later expressed their views before media persons.
Khawaja Muhammad Hussain said that 15 percent increase in salaries and raise in tax-exempted income level to Rs 1.2 million per annum was a longstanding demand of the government employees that had finally been accepted.
They also appreciated the fixed tax on small traders ranging from Rs 3000-10000 and its payment through electricity bills. They, however, added that it should be ensured that no FBR official should then cause trouble for traders after payment of this tax. About the levy of tax on rich people and big luxury vehicles, they said that it was high time for the affluent class to come forward and contribute what was required to strengthen
