The economic managers of Pakistan have clearly given the country a lead and it's a true manifestation of precise cruise control at the macro level. President Emerging Trade Partners Forum, Mian Muhammad Waseem Vohra stated this while commenting on the federal budget 2005-06, announced on Monday. Talking to Business Recorder, he said that the second fastest growing economy after China is Pakistan, which has achieved a qualitative change from static to a lucrative market economy.
Vohra said that the budget outlay of Rs. 1.098 trillion is a quantum leap towards an economic goal for which the nation should be proud of. The government's exemplary measures to give a boost to industry, trade, commerce, at all levels including the SMEs is commendable, he added.
Vohra said that the textile sector has received big relief in sales tax, which will have an all round multiple positive affects on the industrial sector.
The ETPF chief said that the reduction of custom duties on chemicals, plastics and other raw materials for soap, poultry feed is a timely move.
The ETPF chief said that the reduction in import duty of machinery spare parts was a major benefit for industrial sector.