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| June 18, 2002 | Tuesday | Rabi-us-Sani 6, 1423 |
‘Budget disappointing’
LAHORE, June 17: The Dera Ghazi Khan Chamber of Commerce and Industry has described the federal budget for the fiscal year 2002-03 as disappointing, saying it lacks in visionary measures and major initiatives to propel economic growth which has been stagnant in the recent years.
The abolition of duty draw back on exports and across the board reduction of import duties are indicative of the International Monetary Fund’s pressure on budget makers. The prices of several essential items are bound to increase due to certain budgetary measures, a statement issued here on Monday by the chamber president, Iftikhar Ahmad Shaikh, said.
“The budget cannot be termed as investor-friendly because it does not envisage a major breakthrough in the macro economics and creates no new job opportunities. The budget does not contain any outlay for undertaking major development works to improve infrastructure and social sector,” he stated.
GUJRANWALA: The PML(N), the PPP and other anti-government political and religious parties have rejected the federal budget while the other segments of society and business men showed their mixed reaction.
Former MNA belonging to the PML(N) Ghulam Dastgir Khan said here on Monday the government provided relief to the rich by reducing customs duty on vehicles. On the contrary, the prices of ghee and edible oil have been enhanced.
He expressed his apprehension that power and gas tariff would be increased due to inflation.
The PPP legislators Chaudhry Abdullah Virk, Chaudhry Imtiaz Safdar Warriach, Mian Azhar Hasan Dar, city president Chaudhry Khalid Humayun claimed that budget would eliminate the poor and not the poverty.
Gujranwala Chamber of Commerce and Industry president Rana Nasir Mahmood, Markazi Anjuman Tajran group presidents Dr Mahmood Ahmad and Maulana Muhammad Yousaf Abrar and other traders said federal budget would have a positive effect on the national economy due to cut in numerous taxes and duties.
They demanded that certain changes should be made to provide relief to the poor besides avoiding an increase in tariff.
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