LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has termed the Punjab budget for the year 2012-13 as people and business-friendly.

The LCCI Acting President Kashif Younis Meher and Vice President Saeeda Nazar said that the budget focus on energy projects is enough to make the point the Punjab government wants revival of economic activities in the province.

The LCCI office-bearers said that the decision the facilitate private sector energy projects would help ensure electricity to the industry as now a large number of businessmen would be able to initiate power projects in the province.

They said that the provincial government allocation for putting power projects on canals will also curtail loadshedding in future.

The LCCI office-bearers said that that allocation of billions of rupees for self employment of the youth would encourage young entrepreneurs that is a good sign and would definitely go a long way in making the province a hub of manufacturing.

The LCCI Acting President said that the Punjab budget in a balanced one in many ways as huge funds have been allocated for the progress and for raising the living standards of the poor.

Kashif Younis Meher said that record development programme of Rs 250 billion and huge funds for the uplift of less developed areas of the province would help curtail unemployment on the one hand while attract the foreign investment on the other.

The Lahore Chamber Acting President said that cut in salaries of provincial minister in funds for Chief Minister Secretariat would promote much-needed austerity ion the province for which the Chief Minister deserves congratulations.

He said that since long, the Lahore Chamber of Commerce and Industry has been calling on the government to increase allocation for education as is the key to progress and prosperity and by making 15 percent hike in budget for education, the government has accepted the LCCI demand.