SUKKUR, June 9: The traders’ leaders of Sukkur have welcomed the federal budget, terming it an export and investment-friendly budget.

In a joint statement issued here on Monday, Iqbal Pakwala, president, Sukkur Chamber of Commerce and Industry, and Haroon Memon, leader of Small Traders Association, said that the most praise worthy aspect of the budget was that no new tax had been imposed.

They also welcomed reduction in duty on cement and hoped that it would encourage construction sector.

Talking to this correspondent, Mohammad Iqbal Arain said that no levy of import duty on machinery of food processing and packaging was a good decision.

He also appreciated abolition of excise duty on paper.

Khalid Mehmood Khan, director, SITE Board, said that as a result of the steps announced in the federal budget, business activities would get momentum, domestic and foreign investment would increase and pace of industrialization would accelerate.

Munawwar Khan described the budget as an investment-friendly and balanced budget and hoped that it would bring economic prosperity.