MULTAN: Renowned industrialist, President of Dera Ghazi Khan Chamber of Commerce & Industry, Ex-President of Multan Chamber, Former Punjab caretaker Minister for Industries Khawaja Jalaluddin Roomi said that the National budget for 2021-22 is balanced, realistic, and industry-friendly. Commenting on the budget, Jalaluddin Roomi said that Finance Minister Shaukat Tarin has presented an unprecedented and excellent budget in the shortest time. Such a balanced and people-friendly budget cannot be presented in the COVID-19 hit economy.
He was talking exclusively to Customs Today after presentation of the federal budget 2021-22 in his office. He said the government has agreed to several demands of the business and trade community when preparing the budget, however, the tax target should have been kept at the same level as last year.
“The amount allocated in the budget for four dams should also have been increased,” Roomi said, adding that the exceptions granted to the pharmaceutical industry and the Information and Technology sector is a positive move.
Jalaluddin Roomi who is also a member of high-level agriculture committee said the package announced for farmers is a welcome change. He said that Government should take effective and far-reaching measures for boosting up the production of cotton which was neglected during the last decade. He said that the support price of raw-cotton must be announced forthwith.
He also lauded the housing scheme for low-income earners, saying that people would benefit from it. He said the budget has given a direction to industries while special emphasis has been laid on the exports sector as well as the local industry.
He commended the PTI-led government for reducing the withholding tax by 40% and said the turnover tax had also been reduced by 0.25%. The reduction in withholding tax has been a welcome change, “He said the government has provided tax exemptions to the cottage industry, which will reap positive effects while lifting taxes on transactions made by the business community will also help them. He welcomed the fixation of the minimum salary of Government employees at Rs.20, 000/- and enhancing the 10 % salary and pension of the Government servants. He suggested that Government should provide upto Rs.20 million to youths for businesses on merely 2% mark-up and youths must be guided for the establishment of labour-oriented industry.
