RAWALPINDI, May 26 (APP): Rawalpindi Chamber of Commerce and Industry
(RCCI) termed the budget 2017-2018 as a balanced one, but expressed hope that the incentives given to the agriculture sector would benefit the farmers and traders related to agri sector.
Giving reaction on the proposed budget presented by the Finance
Minister Ishaq Dar in the National Assembly on Friday, RCCI Acting President Khawaja Rashid Waien said the announcement of subsidy and relaxation of duties on agri machinery was laudable as it would help boost the agriculture sector. He lauded the increase in PSDP in the budget, lowering of corporate sales tax to 30% was a good step, he added.
However, he expressed concern on duty imposed on Cement and increase
in capital gain tax on dividends and securities. He appreciated the increase in taxes for non filers, that will help document the economy and increase the tax net.
The President said a comprehensive reaction on the budget proposals
would be announced later by the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) after thoroughly studying the proposed finance document.