Pakistan-US Business Council on Tuesday said that relief measures, reduction in duties and taxes and package of incentives offered to private sector in the federal budget would help boost industrial production, promote business activities and attract foreign investors.
Commenting on the federal budget 2006-07, Chairman Pakistan US-Business Council and former President Federation of Pakistan Chamber of Commerce and Industry, Iftikhar Ali Malik said it was one of the best budgets in the prevailing scenario which would help a lot to broaden industrial base besides strengthening the national economy. He said entire foreign investments made in any private and public sector would be fully protected.
Relief package amounting to Rs 120 billion, is a landmark achievement of the present government which, he said, reflects the better and transparent financial discipline.
He said, reduction in duty on import and supply of plant and ginned cotton, cut in cars duty, import of tractors, agricultural inputs, fertiliser, tax relief limit for senior citizens, and increase in pay and pension are the outcome of the prudent economic policies being pursued by high profile professional team of President Pervez Musharraf and Prime Minister Shaukat Aziz.
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