Business community fears ‘IMF-dictated’ budget to hit economy

Contrary to past practices, Finance Minister Ishaq Dar has not approached trade and industry leadership for taking their input for the upcoming budget to be unveiled on June 9. As less than a month is left, business leaders have deplored that the PDM government has not invited them for any consultative sessions to incorporate their proposals in budget 2023-24, fuelling fears that it will be an IMF-dictated document which will further complicate the economic situation. Site Association of Industry (SAI) president Riazuddin told Dawn that traditionally successive governments used to engage the business community in the budget-making process by holding consultative sessions with apex chambers, businessmen, industrialists, etc. The Site chief recalled that in previous regimes, Mr Dar used to hold day-long deliberations with the trade and industry bodies by terming it a “grand finale” ahead of the budget announcement. “So far we have not been invited. We do not know whether the budget will be made on IMF dictation or the government is undertaking this exercise independently,” he observed.