PESHAWAR: The business community of Khyber Pakhtunkhwa has termed the fiscal budget 2015-16 realistic and balanced, and appreciated the federal government initiatives for bringing economic stability and development of the country in coming financial period.
“The PML-N led federal government has presented a historic, progressive, and business-friendly budget for the next financial year 2015-16 under the prevailing circumstances, which is reflecting its commitment to make the country an Asian tiger and economic giant in the region. This was stated by Khyber Pakhtunkhwa Chamber and Commerce President Faud Ishaq while talking to the media after the presentation of the federal budget at the chamber house here on Friday.
He said the all proposals of KPCCI have been incorporated in the fiscal budget 2015-16, and appreciated the federal government for its eagerness towards revival of terrorism-affected businesses and industrial activities and economy of Khyber Pakhtunkhwa.
KPCCI chief reminded the KP had played front-line province in the ongoing war against terrorism, and its people rendered matchless sacrifices, particularly business community remained resilient and continued their businesses despite all odds.
Commenting in the salient features of the federal fiscal budget, Mr. Ishaq said the business community in KP, will regain benefit of previous fiscal relief package, which took back by imposition of section 113 to re-collect turnover on sale and income tax. He said another foremost demand to waive off loan of widow of martyred people, which has been accepted by federal government through the federal budget.
Owing to federal government-business friendly policies, KPCCI chief expressed hope that the Khyber Pakhtunkhwa has again become cardinal of peace and would come investors in the province. He also appreciated the initiatives for sustainable economic-growth, pro-poor measures, tax-reforms, alongwith measures for development of agriculture, energy, solar power sectors, improvement of exports, particularly tax-exemptions on construction materials. He also lauded the increase into Benazir Income Support Program funds.
He said the tax exemption on building materials, would give boost to real-estate businesses, and could be enabled to low and working class to construct houses, besides, he added, the step would also generate employment opportunities across the country.
Faud Ishaq said the ample steps have been taken for overcoming with the growing energy crisis in the country. He said the budget deficit has been restricted to 5%, through better financial management policies of the federal government, which is strongly commendable, adding that inflation ratio has been reducing at optimal level in the country.
