Minister for Foreign Affairs, Khurshid Mahmood Kasuri has said federal budget 2005-06 would not only generate employment opportunities but also attract huge investments in the country. In his comments, Kasuri welcomed the federal budget and termed it balanced and investment friendly. He particularly pointed at the construction, housing and telecom sectors where country had registered an upward increase and hoped more investment in these areas.
Talking to newsmen, Kasuri said that it was a business and industrial friendly and would further boost national economy.
Various incentives had been announced for textile, leather garments and other sectors to help improve economic development. Reduction in duty/tariff was also a positive and commendable step, which would encourage industrial sector and boost foreign as well as local investment, he said.
Referring to Rs4 billion investment in textile industry, he lauded the government policies in this respect and hoped more investment in this vital sector of the economy.
He also commended raise announced in the salaries of government employees and pension of retired officials.
The Minister said Pakistan was among top eight countries for achieving high economic growth rate and added country debt had also been reduced.
The minister also welcomed the government plans announced in the budget for allocation of a substantial amount for the education, health, agriculture, water and power, railways and other sectors.