HYDERABAD, June 8: The federal budget presented by the finance minister on Saturday has generally been praised by different quarters although the Sindh Abadgar Board president and others voiced some skepticism about it.
Talking to this correspondent, the president, Hyderabad Chamber of Commerce and Industry (HCCI), Abdur Razzaq Memon, said the budget could be called a tax-free one and expressed the hope it would encourage investment, help to control unemployment and go a long way in increasing agricultural produce.
He appreciated the finance minister, president and prime minister for taking positive steps to improve education, industrial and agriculture sectors.
He maintained withdrawal of sales tax on the import of agricultural machinery, reduction in import duty on tea and spices and rationalization of sales tax were welcome steps. Withdrawal of excise duty on paper and cardboard would reduce prices of books and notebooks which would have a good effect in increasing the literacy ratio, he added. Similarly, 25 per cent reduction in excise duty on cement would give a boost to the construction industry, he further said.
The HCCI president also welcomed incentives and relief given to small traders and 15 per cent increase in salaries of government employees and pensioners.
In his comments, Anjuman Tajiran-i-Sindh chief Zakir Bin Zahid said keeping in view the international scenario, the federal budget could be termed the best budget.
He hailed facilities and incentives given to small traders, especially reduction of general sales tax from 15 per cent to two per cent.
He, however, said people were disappointed the prices of utilities had not been reduced.
Former HCCI president Mohammad Amin Khatri said if the budgetary proposals were implemented in letter and spirit, they would lead to sustainable development, both in agriculture and industrial sectors.
He said abolition of wealth tax would help improve capital market and withdrawal of excise duty on cardboard, which was a longstanding demand of paper manufactures, would reduce prices of paper and cardboard.
He claimed it was for the first time that education and health sectors had received their due shares in budgetary allocations.
Chamber of Agriculture president Syed Qamaruzzaman Shah said it was a positive budget and would help increase agricultural produce.
He also hailed the repeal of wealth tax act, saying it would provide a fillip to investment.
However, Sindh Abadgar Board president Abdul Majeed Nizamani criticized the finance minister for ignoring the demand of farmers that GST on agricultural inputs, particularly fertilizers and pesticides should be withdrawn in view of acute shortage of water.
He regretted that no steps had been taken to resolve marketing problems of the agriculture sector and no incentives been announced for the export of major cash crops.
He said the agriculture sector, which contributed 28 per cent to the GDP against 18 per cent by the industrial sector, had not been given a fair deal.
He welcomed incentives for housing and engineering sectors.
Sindh Jamiat Ulema-i-Pakistan president MNA Dr Sahibzada Abul Khair Mohammad Zubair in his comments on telephone from Islamabad termed the federal budget a game of statistics.
He said the federal budget had no importance in a country where 12 mini budgets were presented in one year. He referred to frequent increases in prices of gas, power and patrol.
The MNA said no measures had been announced in the budget to alleviate poverty or unemployment.
The Sindh National Party at its meeting held here on Sunday said the budget was anti-people and pro-capitalist.
