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Federal budget to bring economic stability, generate jobs

By Our Staff Correspondent

PESHAWAR: Terming Federal Budget 2019-20 is people and business-friendly, financial and political experts here Thursday said it will help provide economy stability, alleviate poverty, promote small medium entrepreneurship (SMEs), infant industries and generate employment opportunities for hundreds of thousands of people in the country.
MPA Jahandad Khan said maximum relief has been provided to common people including businessmen, industrialists, farmers, labourers, government employees, SMEs and taxpayers in the budget 2019-20 despite difficult economic situation inherited by the PTI Govt.
He hailed 10percent increase in salaries and pension of the government employees in the budget besides increase of minimum wages to Rs17500, saying PTI Govt has won the hearts and minds of hounds of thousands of labourers and working class.
The MPA lauded formation of a new ministry for elimination of poverty, adding it would help launch and supervise special programs for society safety besides ration card scheme and Ehsaas program to facilitate poor, orphan, widows, disabled and homeless people.
“The common people has no concerned with increase of federal excise duties on cigarettes, vehicles, jewelries and drinks being luxuries items and wanted employment and others basic amenities of life.”
Zia Khattak and Wisal Khan, an eminent real estate builders welcomed withdrawal of restrictions on purchase of poverty and termed a landmark step forward to promote real estate business in the country.
They said previous government has imposed unnecessary restrictions on registration or transfers of property exceeding rupees five million in the name of a non-filer that adversely affected this business.
They said construction and 40 others allied industries will achieve new heights besides generate employment opportunities for thousands of people by alleviating poverty and reduce Govt jobs’ demands of people.
Saleem Farooz, PTI leader of Chugalpura Ward Peshawar also welcomed the Federal Budget and lauded reforms introduced by the Government for betterment of masses and taking the country out of existing difficult inherited challenges.
He said the budget was in accordance to reflections of people’s aspirations. He also appreciated PM Imran Khan’s announcement of formation of high powered commission to investigate Rs24,000billion borrowing taken during last 10 years of PPP and PMLN regimes.
“The people have all the rights to know where such huge amount was spent, under which terms and conditions it was taken, who is beneficiary and who obtained this huge loans.”
Professor Dr Muhammad Naeem appreciated the PTI led Government first Federal Budget 2019-20 and termed it pro-poor, inclusive and goal-oriented in all respect despite difficult economic situation inherited by PTI.
With presentation of the budget 2019-20, he said Govt has laid a strong foundation to take the country out of existing economic situation and move the country on road to progress and development.
He said infant industries and SMEs sector will grow and perfect completion in market will prevail besides discouraging monopoly of large industrial units and companies.
He hailed announcement of decreasing sales tax’s rate on brick kilns from existing 17pc that would largely help poor labourers and ensure growth of construction related industries, adding reduction of sales tax on food supplied by restaurants and bakeries besides concentrated milk powder was a positive step.
Noor Habib, former Vice President All Primary Teachers Association KP, welcomed 10pc increase in the salaries and pension of the government employees up to BS 16 that would help provide financial relief to them.
He said the enhancement of special conveyance allowance for disabled employees from Rs1,000 per month to Rs2,000 per month and increase of minimum wages of labourers to Rs17,500 from existing Rs15000 would help provide better education, health and other services to them.
Members of the civil society and Government employees including Jan Khan, Khurshid Alam, Zeeshan and Sajid Khan also welcomed the Federal Budget and lauded increase in salaries and pension of the Govt employees. They said eatables and medicines would become cheaper and jobs opportunities would be created for millions of people after this budget.
They said tax credit for persons and institutions employing fresh graduates was landmark step of the present Government that would help generate jobs opportunities for hundreds of thousands of graduate besides providing relevant professional experience with financial incentives to grow in the respective professions and play role in the country’s development.

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