FAISALABAD, June 16: People from various segments of society gave a mixed reaction to the budget 2002-03 announced by the federal finance minister on Saturday.

Local Chamber of Commerce and Industry President Mian Naeemur Rahman said the federal government had strengthened terms with traders by announcing a friendly budget. It would have a positive effect on the national economy due to cut in numerous taxes, he said.

Faisalabad Dry Port Trust Chairman Mushtaq Ali Cheema said cut in several taxes gave a fillip to the business community. He hailed the government’s decision to provide online information for custom tariff, SROs to all the dry ports and inter-connecting the dryports with Karachi Port and customs’ authorities.

All Pakistan Cloth Exporters’ Association former Chairman Javed Anwar termed the budget calculated. He hoped it would open new vistas of investment.

He urged the government to announce a package for establishing a chain of export-oriented industries and should merge all the government departments dealing with exporters.

Local Anjuman-i-Tajran President Muhammad Nawaz Vohra said the government would offer more incentives to the small traders to steer the markets out of crisis.

He appreciated reduction in GST on 256 medicines and restoration of self-assessment scheme of tax returns for the traders.

All Pakistan Anjuman-i-Tajran central Chairman Mian Abdul Mannan apprehended the budget would trigger inflation and deficit financing in the country.

He said that government had offered peanuts to the traders and exporters by announcing various incentives, claiming financial managers of the country would not be in a position to provide a single penny to the people due to continuous recession in the markets. Small traders, cottage industries, low-paid employees and pensioners had been ignored in the budget, he said.

Former MPA and PPP Divisional Coordinator Raja Riaz Ahmad termed the budget ‘jugglery with words.’ He said the government had failed to resolve the problems of common man.