President Hyderabad Chamber of Commerce and Industry (HCCI) Emad Siddiqui has said that the budget for the year 2004-05 has marked the shift in fiscal policies towards growth in agricultural and industrial sectors.
Talking to Business Recorder he said that the budget would go a long way in attracting investment if CVT issue is resolved as early as possible and would also give a boost to the agriculture sector.
He said the economy has suffered badly by neglecting the agriculture sector in the past by the successive governments, and the country's economy had suffered a great deal in cash crops.
He said that incentives announced for the agriculture sector would also have a good impact on the industrial sector.
Amin Khatri former president HCCI and member FPCCI has termed the budget as "balanced budget".
He said that the budget has covered every sector from small medium enterprises to heavy industry and from small traders to large trading houses.
He said there were lots of expectations about cut in utility bills and there was a reduction in it but not to the satisfaction of the general public.
He said that the enforcement of SME incentive are imperative which can help setting up of a network of small and medium enterprises throughout the country but unfortunately the SME bank was not working satisfactorily and as such it has to be revamp.
He said that the procedure should be simplified as the present system, it seems is designed for heavy industry.
He welcomed the announcement by the finance minister that the country would get rid of IMF by November 2004. He said if we can get rid of IMF the country would emerge as an independent state in its economic affairs.
He also congratulated the finance minister for his untiring efforts during the past four years to bring the country on the road of economic prosperity.
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