ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has welcomed the tax incentives announced by Finance Minister Senator Ishaq Dar in the federal budget 2017-18 and termed it a "business and people-friendly budget."
"This is a business-friendly as well as people-friendly budget. Industry is backbone for the economy of any country and it is welcoming that the government has announced incentives for the industrial sector," President ICCI Khalid Iqbal Malik told APP on Friday soon after the budget speech.
He said industry needed better concentration and priority to address its issues adding that the steps announced by the government would put the country on the path of sustainable economic growth. Khalid said that the steps taken by the government to solve the issue of loadshedding would soon yield results. "Hopefully, the issue of loadshedding will be resolved by next year. This will help industrial sector to further grow," he said.
He said that last year the country had around 3500 registered companies but their number had registered a significant increase as at present there were around 5500 registered companies in the country. "All this shows that the business community reposes trust in the government policies," he maintained.
He also congratulated the Finance Minister for presenting fifth consecutive budget saying, "He is the only Finance Minister in country's history who has presented five budgets in a row."
The Senior Vice President of ICCI Khalid Malik also expressed similar views and termed the budget a step forward for the welfare of business community and masses. "There is no harshness for the business community in the budget. There is a decrease in corporate taxes which is a welcome sign. I think the government has kept the interests of business community protected" he said.
He said the government had also taken care of agricultural sector which was commendable. However; he was of the view that there was a trust deficit between Federal Board of Revenue and business community, which he added must be bridged.
Advisor SAARC CCI Zubair Ahmed Malik in his comments said that the government had realized the importance of textile sector and was focusing on that which was a welcome sign. He said the business community had been given relief, which would help achieve accelerated economic growth.
He underlined the need to take more steps for creating conducive environment for the industry in order to create new jobs, improve productivity, enhance exports so that the country could emerge as a strong economy.
Former Executive Member ICCI Babar Chaudhry in his remarks stated that the government had given various incentives for business community. "The incentives for poultry sector are also welcoming," he said.
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