Sindh Senior Minister Syed Sardar Ahmed has assured investors, industrialists and manufacturers of the government's full support in resolving their genuine problems.
The minister was addressing a pre-budget 2004-05 seminar organised by the Institute of Cost and Management Accountants of Pakistan (ICMAP) on Saturday.
While appreciating the government's economic policy, Sardar Ahmed said his government would make every effort to resolve problems of the business community.
He said the coming budget would bring more incentives and facilities for the industrialists and traders. He was hopeful that the good economic policies of the government would help to create new jobs and eradicate poverty from the country.
He said it's a good time to invest in the country, as the economic growth is encouraging.
He said that an advisory council in the concerned ministry has been set up to seek the guidance of private sector industries, chambers of all provinces and leading industrialists in formulating economic sector policies and their implementation.
He said that the Prime Minister has directed that outlay of the public sector development programmes for the next financial year should be increased.
He has further directed that the rates for all basic services should be competitive. Health and Education should also remain in focus in the development programme.
President, ICMAP, Sher Afgan Malik was of the view that the GDP growth rate in Pakistan, which was at present over 5.5 percent, would be around 6-7 percent in coming years.
Engineer M.A. Jabbar, vice-president, Federation of Pakistan Chamber of Commerce and Industry (FPCCI), maintained that the sales tax should be reduced by 5 percent from 15 percent to 10 percent and income tax on all categories of taxpayers be reduced by a minimum of 10 percent.
He suggested suitable reduction in rates of withholding taxes, reduction in rate of additional tax and marginal tax relief.
Habib Fakhruddin, member Facilitation and Tax Education (FATE), Central Board of Revenue, said that in the next budget, due considerations would be given for promoting and facilitating economic activities in the country.