Fiscal Year 2018-19: Punjab budget won't affect provincial economy: FCCI chief

Punjab Budget for the remaining eight months of current fiscal year will have no immediate impact on the provincial economy; however, provincial government has to take solid and viable policy measures to dilute the ill effects of hike in gas tariff and expected increase in the electricity rates by the Federal Government.
Commenting on the provincial budget, Faisalabad Chamber of Commerce & Industry (FCCI) acting president Mian Tanveer Ahmed said government has allocated maximum funds for health and education sectors but at the same time the decrease in development budget will certainly affect the masses in general. Similarly maximum funds allocation for underdeveloped areas of the province is a positive step which would help to generate much needed economic activities and bring these underprivileged areas at par with the developed cities of the province.
He also welcomed new and innovative schemes of health cards, health insurance and maximum allocation for farmers but remarked that proactive, honest, committed, devoted and capable administrative machinery is imperative to make these schemes successful.
He said industrial sector is the mainstay of any economy and Punjab government should facilitate it as without reducing production cost we could not make a phenomenal growth in this important field. He also stressed the need to utilize information technology to minimize the interference of more than one dozen government departments.
He purposed that government should introduce a one window facility for industrial sector so that they could resolve their all provincial issues at one place instead of visiting different offices.
Mian Tanveer appreciated the Punjab government for allocating Rs 4 billion for Quaid-e-Azam Industrial Estate but presented a proposal to empower Punjab Revenue Authority (PRA) to seal the business centres. He warned that such actions will not only discourage new investment but also promote unemployment in case of sealing different business concerns.