Economic revival: 'Budget 2011 must be pro-industry, people-friendly'

President Sialkot Chamber of Commerce and Industry (SCCI), Ghulam Mustafa Chaudhry in a press statement said that government should take into account the problems being faced by the business community before announcing Federal Budget 2011-12. It is high time that we must set our priorities right for promotion of industry and business for ensuring hurdle free productivity and generating employment in order to rein in the economic rot.
Ghulam Mustafa said that the country is passing through a difficult period in terms of economy, law & order and social base, adding that element of uncertainty has gripped the entire country. There is a sense of frustration and despair among the people, the prime factors being inflation, corruption and deteriorating quality of life. He observed that health and education facilities are expensive, justice is denied and necessities of life unavailable or available at sky-high price. Government is now preparing budget 2011-12 and can facilitate the people and business by announcing necessary relief package, he added.
He stressed that government's prime object should be to keep supreme the interest of the common man by announcing relief package in Federal Budget 2011-12. Price control of commodities, rational utility rates and power supply should be the main theme of the budget for providing relief to the people who are struggling for sustenance and are praying for energy supply.
SCCI President added that a fair taxation system by widening the tax base and nurturing a culture of voluntary tax payment should be established. Tax system should encourage industrial growth and tax incentives aimed at promoting SMEs growth should be considered. The budget must be pro people and pro industry and an economic revival of the country should be the ultimate objective, he maintained.
He said that government has already announced 2011 as the year of exports. In order to give practical shape to this decision, business and export friendly policies must be the top agenda of the ensuing budget. To boost export-led growth more incentive should be given to the export industry, which has heavily invested in machinery, equipment and infrastructure during the last three years to keep pace with the international requirements.