ISLAMABAD, Jun 12 (APP):Financial Expert and former President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Dr. Shimail Daud, highlighted the significant adjustments made to economic decision-making in the today’s budget, calling it a positive move.
Speaking to a private news channel, he said, “The budget’s primary focus on the market economy marks a critical transition.”
“Every segment and industry must stand on its own feet,” he said, indicating an end to the era of protectionism and broad subsidies.
“While targeted subsidies will remain, they will be designed with an exit strategy in mind,” he noted.
“The movement towards targeted subsidies rather than blanket subsidies is a very welcome shift,” he added.
Dr. Daud pointed out that many existing subsidies were being retracted in favor of more focused financial support.
Another appealing aspect of the budget, according to Dr. Daud, is the government’s intention to reduce manpower and improve efficiency through digitization initiatives.
The shift towards an online and e-economy, including the digitization of the Federal Board of Revenue (FBR) and the implementation of e-procurement, were key components of this strategy.
“All these steps indicate a positive shift but implementation and successful operations will be challenges ahead for the government,” he said.
He called on all political parties to support this process and to back merit-based decisions to ensure the success of these reforms.
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