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FAISALABAD, Jun 12 (APP):Various segments of the society including political figures, traders and representatives of farmers’ community, civil society have termed the Federal Budget for the fiscal year 2024-25 as balanced and best in the prevailing economic scenario in the country.
Welcoming the budget speech of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, various circles have said it is actually indicative of the fulfillment of manifesto of coalition government to bring a positive change in the national economy.
PML-N Divisional President/local businessman Hajji Akram Anasri termed the federal budget as balanced and pro-people. He welcomed the increase in salaries of government employees and said that salaried class was worst hit by inflation. The government has realized their miseries and announced 25 percent increase in the salaries of the employees of grade 1 to 16. Similarly, 20 percent increase has been allowed to the employees of higher grades.
Moreover the government has proposed to increase 15 percent in the pension of government employees which was much-needed relief in the prevailing economic scenario, he added.
President Faisalabad Chamber of Commerce & Industry (FCCI) Dr Khurram Tariq has welcomed the agriculture growth and said that 6.9 percent growth has stabilized the economy.
Talking to the media persons after hearing live budget speech of the finance minister, he said that the SME sector was in critical condition but the government has assured to provide maximum lending to it through EXIM Bank as 95 percent of loans was enjoyed by the large scale industry.
The President FCCI endorsed the intention of finance minister that the government should not do the business but it should facilitate the private sector to do this job.
Muhammad Tayyab of All Pakistan Bed-sheets and Upholstery Manufacturers Association (APBUMA) also appreciated the allocation of maximum loans for SME sector and said that the government should take measures to ensure availability of raw material and other inputs at subsidized rates for this sector.
The SME sector could only avail from the increase in export credit enhanced from Rs.540 billion to Rs.1100 billion if it is provided conducive environment for its fully functioning, he added.