Corruption a hindrance to business, corrective measures needed: IBFB

Corruption a hindrance to business, corrective measures needed: IBFB

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He described the budget as realistic and implementable, but stressed the need for good governance and proper monitoring to overcome the challenges. Further, he emphasized on clear direction and planning in the budget to enhance efficiency, transparency, accountability and overall monitoring standards.

The IBFB expressed concern about the inflation target set in the proposed budget. Humayun Rashid said in his keynote address that the budget's target is to keep inflation at 6.5 percent, while it was 9.89 percent in May. Curbing the inflation rate is a big challenge, but it must be done to reduce the suffering of the public.

Achieving the revenue targets outlined in the budget appears to be another big challenge. Macroeconomic indicators and revenue collections are under pressure due to the current global reality.

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