I am glad they increased taxes on imported luxury cars. The budget for education remains low, but Ahsan Iqbal, who himself was making a living teaching at private universities in his opposition time, has apologized for a low education budget. He has less leverage than Ishaq Dar on such matters.
BUSINESSMEN have whole-heartedly supported the Punjab budget terming it as a humane document that has tried to create resources by fairly taxing the richer segments of society to provide relief to the poor.
Lahore Chamber of Commerce and Industry President Mohammad Ali Mian on Monday termed the Punjab budget for year 2008-09 positive, pro-industry, pro-poor and relief-oriented. He said that the government of Chief Minister Mian Shahbaz Sharif deserved congratulations for presenting a balanced budget. He said the budget would lessen the suffering of the poor that would go a long way in improving their productivity.
He said that at a time when the nation was suffering from severe energy shortage in the country, Punjab’s resolve to produce 350 Mega Watts through small projects was a step in the right direction and an ample proof of the vision of the planners.
The LCCI president said that the revival of Green Tractor Scheme, huge funds for irrigation and leasing out of 60,000-acre government land to poor peasants would help bring the green revolution in the province. Leading entrepreneur from engineering sector, Almas
Hyder welcomed higher allocation for TEVTA. However, he appealed the provincial government to revamp the authority on the same philosophy on which it was established nine years back. He said that presently the authority was under the firm control of bureaucracy. He said that after a long time, the planners have paid some attention to the small and medium enterprises (SMEs) that remained neglected in the past. He said that this sector was the main provider of employment around the world. He added that Punjab has a strong SME base that was slowly closing. He said the waiver granted to cart and rickshaw from registration would provide welcome relief to them from the exploitation by the police authorities.
Lahore Chamber of Commerce and Industry former President Mian Anjum Nisar said that the one time tax on luxury vehicles would hurt the political elite more than businessmen. He said businessmen never default on such taxes as they paid the luxury vehicle tax in the past as well.
Former Chairman Pakistan Association for Auto-Parts and Accessories Manufactures, Syed Nabeel Hashmi said the tax on luxury cars should have been a regular feature.
He said all luxury vehicles are imported and were a permanent burden on the foreign exchange reserves of the country. He said all the parts and components for the repair of these vehicles were imported at high price. He said after a long time, some one in power has shown the humane face by announcing relief for widows, and low wage earners.
He said green tractor scheme would benefit both farmers and the industry as sales of tractors would be boosted. Chairman Qaumi Tajir Ittehad Lahore, Anser Zahoor Butt called the Punjab budget revolutionary. He said the budget has given a glimpse of the future economic policies of the province. He hoped that all pro-poor policies announced in the budget would be implemented in letter and spirit. He also hoped that the economic activities in the province would improve next fiscal.