LAHORE– Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq Saturday termed Federal Budget 2020-21 as growth-oriented and moderate envisaging several pro-business measures despite economic crunch due to pandemic of coronavirus and a number of domestic and international challenges on different fronts.
Talking to media here today, he appreciated Prime Minister Imran Khan’s commitment for revival of economic activities in the country besides giving incentives to industry to boost the volume of exports. He said the government had allocated maximum funds for development projects which depicts that PTI leadership was sincere for national progress and prosperity.
He said that the federal government took positive steps for uplift of national economy and the government would have to give maximum relief to industrial sector to achieve the objective. He lauded the government for allocating maximum funds for education, agriculture, livestock and energy sectors.
Mian Kashif Ashfaq said Prime Minister Imran Khan deserved appreciation for giving importance of CPEC and it is good thing that the government has allocated Rs 118 billion for CPEC-related projects including its western route. He said that whole world is now having trust in Pakistan as they all know that Pakistan is now being ruled by honest leadership under Imran khan.
He said the federal government has been increased to Rs 208 billion from the existing Rs 187 billion for Ehsaas Programme and this programme is aimed at uplifting the lower strata of the society ultimately leading the country to a welfare state.
Mian Kashid said the government has allocated Rs 2 billion in the budget for the Kamyab Jawan Programme for capacity building of the youth. He said demands’ gap between educational institutes and industries were major cause of unemployment and this problem would be addressed under Kamyab Jawan Programme by generating jobs as per market demands.
He also welcomed the government’s move to not raise the rate of pension and salaries this year, explaining that the government in previous years has been making an increase in these un-funded pensions with no sources to generate revenue for them. “Most people receiving pensions are not even alive, hence, cutting this expenditure would cushion economy in times of pandemic,” he said.
He noted that the customs and regulatory duties were reduced and relief provided to the industries, which brought down the inflation rate.
The move to give concessions on imported products for children was commendable. “From the budget speech, it seems that the government gave a lot of concessions,” he said.
However, he said the government should also focus on developing halal products in the country and promotion of halal products should be our budget’s major agenda, as it could give a quantum jump to the declining exports.
“There is no Muslim country in the list of top-10 halal meat exporters, although Pakistan has a big potential of exporting halal meat globally,” he added.
Mian Kashif said that the business community would fully support the judicious economic policies of the government aimed to steer the country out of the current economic quagmire.— PRESS RELEASE
