'Budget to spur industrial growth'

This is the first-ever budget that will stimulate industrial growth, President of Multan Chamber of Commerce and Industry (MCCI) Mian Anis A Sheikh said on Saturday. Talking to reporters here after the presentation of the budget, he said that the reduction in customs, excise duties, and imposition of turnover tax would help reduce the ballooning inflation rate.
However, he said that there should have been some clear announcement about the circular debt, which was one of the major causes of power outages. He also voiced concern over the government's reluctance regarding the announcement of major hydel projects. "It is disappointing to note that no funds have been set aside for major dams in the budget for the next fiscal," Shaikh said.