ISLAMABAD: The Pakistanis in Middle East has lauded the Rs 4.313 trillion ‘growth-oriented’ budget presented for fiscal year 2015-16.
Dubai Diplomat Business Club President Javed Malik said that the budget was growth oriented and aimed to introduce reforms to encourage investment and promote trade. He pointed out key features of budget, saying that the special concessions and incentives had been introduced to facilitate the agriculture sector.
“Being an agriculture-based economy, special incentives have been introduced to facilitate farmers. Youth loans scheme has been further expanded to encourage entrepreneurship,” Malik was quoted as saying by Khaleej Times on Sunday.
Pakistan Business Council, Dubai President Tanvir Khawaja also welcomed the budget, saying that this was a balanced budget amid considering available resources to the government. He said that the government has allocated Rs248 billion to complete energy projects on priority basis to curb the power crisis, adding that 10,600- megawatt electricity was expected to connect with national grid in coming two years.
Khawaja welcomed the tax rebate for Khyber Pakhtunkhawa and said it was a good move to revive the industry in the province. He also hailed significant increase in allocation to Benazir Income Support Programme.
Pakistan Business Council, Abu Dhabi President Dr Syed Qaiser Anis said the budget for 2015-16 would accelerate business activities and boost employment opportunities in the country. He lauded that the budget deficit had been decreased to five per cent and appreciated the government’s focus on the energy sector where heavy investments were proposed to generate 7,000 megawatts from hydel resources while another 3,600 megawatts would be raised by using LNG as fuel to a total of 10,600-megawatt electricity into the system to overpower the load shedding.
