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Daily Times
April 13, 2021
Former president Islamabad Chamber of Commerce and Industry (ICCI) Shahid Shahid Butt on Monday said that harsh conditions of IMF will have a catastrophic effect on the masses already facing pandemic, unemployment and unparalleled inflation. In a statement issued here, he said masses cannot bear the burden of the stringent conditions of the lender amid the economic downturn. Shahid Rasheed Butt said that IMF has asked to increase the FBR target by Rs 1.3 trillion to Rs6 trillion for the incoming fiscal while masses will have to pay more taxes, face hike in power tariff and increased petroleum products resulting in increased cost of living. The IMF conditions will also necessitate a cut of Rs150 billion in developmental spending and other measures eroding the remaining buying power of the poor and middle-income groups, he added.
Daily Times
April 2, 2021
Former President Islamabad Chamber of Commerce and Industry (ICCI) Shahid Rasheed Butt on Thursday said that decision ofPrime Minister Imran Khan regarding lockdown is in the interest of masses ascountry cannot afford general lockdown.
In a statement issued here, he said imports of sugar and cotton from Indiawill also provide relief to masses and help the textile sector run on fullcapacity to boost production, exports and employment. Shahid Rasheed Butt also hailed the decision of the Prime Minister tofacilitate the masses get bank loans for their houses on soft terms andconditions. He said that masses were facing problems due to the reluctance of some banksto provide housing loans therefore the PM has directed the State Bank of Pakistan (SBP) and National Bank to take steps to provide relief to the masses.