Budget 2020-21 is business-friendly: Arif Habib

Capital markets and stock market expert Arif Habib termed the budget business-friendly and appreciates that no new tax is imposed.

While the business community and economy experts have termed the budget as inadequate to address the current challenges properly, Habib finds no fault with the budget and calls it encouraging for business activity.

Experts called on the government for not providing relief to the poor through cuts in existing taxes and controlling inflation.

Economist Khurram Shehzad said that SMEs are going to be worst hit by the absence of relief for small businesses through incentives and tax relief.

PPP Senator Sherry Rehman said the budget seems to lack vision and appear to be just an accounting exercise on part of the government.

She wrote in her tweet: “This is not a national #budget for a country facing a crisis. It squandered a huge opportunity to change priorities, like diverting resources to health as % of GDP, but it instead cut money for provinces who run social spending. It’s just an accounting exercise led by IMF.”

Experts from different circles of industries have criticized the government for not giving due attention to health and education as well.