ISLAMABAD - Traders and industrialists Saturday observed that government had shattered their expectations as no major incentives were announced in the budget for the next fiscal year for the revival of industry and business activities in the country. Office-bearers of the FPCCI, ICCI and RCCI feared major shutdown of industries within the next 4 to 6 months due to increasing cost of production, high interest rates and mounting volumes of non-performing loans, which have crossed the level of Rs 400 billion. However, by announcing no solid measures to support the businessmen and industrialists in the budget, the government seemed as if unaware of the gravest situation faced by the second largest sector of the countrys economy, they observed. While talking to TheNation, President Rawalpindi Chamber of Commerce and Industry (RCCI) Syed Asad Mashhadi said that no incentives had been announced for the manufacturing sector, which, he said, was dying down due to increasing cost of doing business. He feared a major shutdown of industries in the next 4 to 6 months and added that the revenue targets set in the budget could not be achieved until the cost of doing business was lowered. Chaudhry Muhammad Saeed, former President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that the budget carried no good news for the countrys industry except the 2% increase in import duty. He termed the Rs 1377 billion revenue target as unrealistic in the wake of deteriorating law and order situation in the country and global economic recession. He said the law and order situation in the country, especially in the NWFP and Balochistan, had taken toll on business activities and had the agriculture sector not supported the countrys economy during the outgoing year, the GDP progress would have recorded negative growth. He said the bomb of increasing electricity tariffs was yet to explode, adding that the government had only revealed the 'good things in the budget statement while the real face of the budget would be unveiled in days to come, he observed. Malik Sohail, Vice President National Traders Alliance (NTA) said that small traders and businessmen, especially belonging to NWFP and FATA, could find no relief in the budget despite the fact that the areas mentioned were hard-hit by the ongoing militancy. He hailed the withdrawal of subsidy for oil refineries saying that the same benefited the elite class more than the poor. He lamented non-imposition of agriculture tax and urged that profitable property should be taxed. Malik Sohail further said the budget document was much 'careful and a number of things including the increase in electricity tariffs were not unveiled due to the fear of public reaction.