ISLAMABAD, May 30: Minister for Investment and Privatization Dr Abdul Hafeez Shaikh on Friday indicated that the government was considering to slash some taxes and duties in the forthcoming budget to attract the much needed investment.

“The Board of Investment (BoI) has submitted some budget proposals, seeking reduction in excise duty, particularly in cement industry, and cut in duties on the import of machinery and equipment, to facilitate the businessmen and investors,” the minister told a delegation of Rawalpindi Chamber of Commerce and Industry (RCCI).

The delegation, led by RCCI president Osman Khalid Waheed, comprising Dr. Hassan Sarosh, Hussain Ozgan, Najam Rehan, Haroon Ihsan Piracha, Sabir Hussain Butt, Sohail Altaf and Sohail A Sethi called on the minister here at BoI.

Dr. Hafeez, while welcoming the suggestions made by the delegation regarding some revenue measures for the facilitation of investors and businessmen, hinted that these would be reflected in the federal budget for 2003-04.

Regarding the law and order situation, he agreed that it was certainly an issue, adding, but the situation was not so bad as it is projected abroad, causing travel advisories by the western countries, which hurts our economic interests.—APP