Former Chairman Pakistan Association of Automotive Parts Accessories Manufacturers (PAAPAM) and Founding Chairman All Pakistan Business Forum APBF Nabeel Hashmi appreciated the federal budget 2014-15 as dynamic, revolutionary and far reaching for the industrial community.
Commenting on the next year's budget, he said: "It seems to be well calculated and hope its good effects shall translate into jobs and revenue creation". He welcomed reduction of sales tax on tractors and increase of taxes on the non-registered informal sector. Reduction of FED on large vehicles shall support local production. Only 10% enhancement of fixed duties of used cars is very low and should have been jacked up by 50% at least. Education and health outlays should have been enhanced further as the general public growth and demand is far outstripping the supply in the public services areas. Nabeel said export incentives and details are still awaited and hoped that non- traditional sectors are being supported with the EDF structural changes.
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