President of Multan Chamber of Commerce and Industry (MCCI) Khawaja Jalaluddin Roomi has hailed, what he said, the development-oriented, tax-free balanced and realistic Punjab Budget for the year 2017-18. However, he expressed his reservations on infrastructure development cess levied on the imports through dry ports describing it extra burden on importers. He demanded immediate withdrawal of this cess for the survival of dry ports in Punjab province.

"Sizeable reduction in sale tax for construction services will help at least 35 related sectors to grow and prosper expeditiously in addition to providing new job opportunities to our youth," Roomi hoped. He congratulated the Chief Minister Shahbaz Sharif and Finance Minister Ayesha Ghous Pasha, saying that record funds of Rs 635 billion have been allocated for the development projects in the history of Punjab. "Improved infrastructure with efficient and energetic administrations will help different sectors to grow and progress," he said, appreciating the withdrawal of registration fee for new business firms.

Roomi expressed hope that it would certainly double the size of businesses in Punjab. MCCI president said that 10 percent increase in salaries and pensions is a bold step. He said that it also indicates that government is fully aware of the financial problem of government servants and pensioners and was making serious efforts to mitigate their genuine sufferings. "Allocation of 59 percent of total budget for local governments is indicative of the strong will and vision of the government to further strengthen the local bodies enabling them to resolve the public problems promptly at grass root level," he said.

Copyright Business Recorder, 2017