F.P. Report
LAHORE: SAARC Chamber of Commerce and Industry (SAARC-CCI) Vice President and United Business Group (UBG) Chairman Iftikhar Ali Malik here on Saturday said that the federal government, in the given circumstances, has presented an overall business-friendly and balanced budget for the financial year 2018-19.
Talking to APP, he said that the federal government had in its last budget took commendable iniatives like removal of Regulatory Duty on important raw materials, increase in development budget, limit enhancement for income tax exemption, allocations for agriculture and livestock sectors.
In the current national and international predicament, he viewed, the government had made the budget document encouraging that would help boost business activities so as to increase employments and revenues in the country. “Despite continuous surge in dollar price against rupee, still the budget is growth-oriented with good fiscal management paving way for economic stability of the country in the long run,” he observed.
Malik also hailed federal government for ensuring allocating maximum funds for water and power projects as well as infrastructural development, asserting that refunds, agriculture support fund and composite audit were welcoming steps.
Meanwhile, the budget 2018-19 is the first of its kind by any government in which almost all section of life have been provided relief.
This was said by Chairman Chungi Amar Sadhu, Ferozpur Road Traders Association Mian Azhar Malik while talking to APP here on Saturday.
Mian hailed the steps taken by the government for small trades, business community, agriculture and allied industry. He said keeping inflation up to only six per cent would be an uphill task, which, if materialized, would keep the prices in control and help maintain mark up at the low rate that would ultimately benefit industry, increase production and reduce unemployment.
Appreciating the government, he said it had focused on education and health sectors and allocated huge funds for these sectors in the budget.
Azhar appreciated the initiative of reducing duty on latest technology and electric cars and termed it as an environment friendly step, adding that reduction in taxes on vehicle charging machinery would lay foundation of a new business that would provide more means of earning to the people.
He also lauded allocation of a huge budget for the railways. and said that public transport sector especially Railways should be promoted as it was safe and economical not only for passengers but also for traders to transport their goods across the country.
