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The business Community of South Punjab on Saturday hailed the federal budget proposals for 2016-17 and govt's move to restore the zero-rated regime for five export-oriented sectors in its annual budget and fulfilling its commitment.

President of Multan Chamber of commerce & Industry (MCCI) Fareed Mughis Sheikh, Senior Vice President, Atta Shafi Tanvir, Ex-Presidents Mian Mughis A Sheikh, Mian Iqbal Hassan, Khawaja Muhammad Yousaf, Ex President of FPCCI Mian Tanvir A Sheikh while talking to media persons at Chamber said the government's announcement to restore the zero-rated regime to value-added textile, carpet, surgical, sports goods and lather trade was a positive step. It would help increase the country's export volume, besides healing the sufferings of businessmen associated with the sectors, he added. They described the budget as balanced, realistic and pro-industry. He said that the earlier completion of Lahore-Karachi Motorway project would also help bring the people of both provinces closer to each others. "It will provide jobs, farm-to-road connectivity and economic growth in Pakistan," he added.

"Our tax refunds have gone up to some Rs 280 billion. The release of amount would help enhance the business activities, besides promoting the country's export volume," Fareed Sheikh concluded. They also hailed the government's move to give incentives to agriculture sector through concessions of taxes and duties, reduction in prices of fertilizer, enhancement in the target of agriculture credit, reduction of cost of credit, credit guarantee scheme, exemption of sales tax and etc.

Copyright Business Recorder, 2016


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