People from various walks of life have welcomed the federal budget 2005-06 terming it welfare and incentive-oriented aiming at strengthening the economy and benefiting the lower strata of society. Mian Muhammad Latif chairman Faisalabad Industrial Estate Development & Management Co, said that the budget was a continuity of the policies introduced by the economic managers of President General Pervez Musharraf and implemented with competence by Prime Minister Shaukat Aziz.
He said the focus of the budget was to stabilise the economy, curb unemployment and poverty, improving infrastructure and human resource development.
Wasim Latif acting chairman Pakistan Textile Exporters Association (PTEA) also welcomed the budget and said that adequate measures had been taken to give maximum relief to the masses. He said that Pakistan had been led out of the economic quagmire prior to 1998 and was now in a comfortable position with more than 14 billion forex reserves and GDP growth at 8.35 percent.
The record increase of 15 percent in salaries and 10 percent in pension would relieve the segments, he added.
Lauding the budget, Sajjad Cheema vice-chairman PTEA said that profiteers intentionally hoarded items of daily use prior to the budget announcement every year to sell in the black market. He credited Musharraf and his economic managers who totally eliminated this practice.
He said that exporters appreciated the zero rating of sales tax, as this would facilitate them in maintaining liquidity and expanding exports.
Muhammad Haneef chairman District Public Safety Commission, Faisalabad and Muhammad Saeed regional chairman All Pakistan Textile Processing Mills Association (APTPMA) also welcomed the federal budget and said that it would not only pave way for economic progress and prosperity but also ensure benefits to the masses.
Ch Muhammad Ikram former Member Punjab Bar council lauding the huge allocation made to the social sector said it would not only provide better education, health and other facilities at the doorsteps of the masses but also make a qualitative improvement in their lifestyle.