FAISALABAD: All leading trade organizations, including the Faisalabad Chamber of Commerce and Industry (FCCI) and Council of Loom Owners Association (CLOA), on Friday categorically termed the federal budget 2016-17 as pro-people and business friendly.
They said it was a historic budget which would help in stabilizing the national economy and materializing the dream of national progress and prosperity.
President Faisalabad Chamber of Commerce and Industry (FCCI) Chaudhary Muhammad Nawaz said the government had accepted almost all demands which were made from it before budget announcement.
He appreciated zero-rating for five export sectors and said that it will surely help in boosting up business and trade activities in the country.
He was satisfied with the budget speech of Finance Minister and said that the federal budget was encouraging for the industrialists, exporters, traders and businessmen. He said the federal budget was not only good but it was very good and particularly acceptable to all as the government had tried its best to provide maximum relief to all segments of the society.
He said the government had also made reasonable increase in salaries, pensions and other allowance of government employees without putting additional burden on low socioeconomic classes.
The FCCI Chief also appreciated the allocation of maximum funds for agriculture sector for providing subsidy on agriculture inputs and said that it would help in increasing agriculture productivity in the country.
MNA Shehbaz Babar declared the federal budget a true depiction of the PML-N's pro-people line and said that maximum funds have been allocated for poor segments of the society.
The government has increase funds of the Benazir Income Support Program (BISP) from Rs.102 to Rs.115 billion which clearly indicates that the PML-N government truly wanted to improve living standard of oppressed and depressed classes, he added.
Former senior vice president Faisalabad Chamber of Commerce and Industry (FCCI) Sheikh Nadeem Allahwala also appreciated the federal budget and said that the government had rightly focused on the energy sector and its foresighted policies will surely overcome the menace of loadshedding from the country.
Waheed Khalid Ramay, Chairman Council of Loom Owners Association (CLOA), also welcomed the federal budget and termed it best in the present scenario as volume of funds for development was maximum in the history of Pakistan. He also appreciated the establishment of university campuses at district level and said that it would help in increasing the literacy rate in the country which will reciprocally help in gearing up the pace of national progress and prosperity.
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