Speakers at a post-budget seminar organised by All Pakistan Tax Bar Association (APTBA) shed light upon various positive and negative aspects of the federal budget 2004-05 with reference to income tax and sales tax.
They, however, came up with the consensus that the country's economy has improved during the last four years.
Speaking on the occasion, Justice Ali Nawaz Chohan of the Lahore High Court (LHC), who was the chief guest, supported the healthy and positive policies introduced by the government through the federal budget 2004-05.
He also pressed for payment of due taxes by the taxpayers and affluents and effective tax administration.
APTBA president Naeem Shah termed the budget as 'investment-attracting and problem-reducing' for the business community.
He appreciated the economic policies of the government, which have brought many positive changes in the country. Economic achievements during the current fiscal year have shown excellent results, he observed.
He said that various steps taken by the government have led to higher growth in industrial production; reduction in fiscal deficit; decline in foreign and domestic debts; decline in interest rates; unprecedented increase in foreign exchange reserves; raise in remittances; upsurge in stock market and higher income in exports.
Zia Haider Rizvi Advocate, Dr Ilyas Zafar Advocate, Javed Iqbal, Lahore High Court Bar Association president Ahmed Awais and Rana Munir Hussain also spoke on the occasion.
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