Mini budget will bring better results on economic stability: Mian Zahid Hussain.

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Thursday said that the mini budget presented by the Government is in fact the economic policy to correct the direction of economy. The bill provides several measures of policy makers to build supporting environment for investment, trade, industry and agriculture with increased profitability for the business community. To flourish investment in the Country, Greenfield investment and industrial units in special economic zones have been exempted from income tax for the period of five years in addition to exemption from regulatory duties on import of plants and machinery.

The Veteran Business Leader while talking to the business community said that alternate energy sector has also been exempted from taxes and duties in order to promote the cheaper means of energy and investment in this very important sector. Local and foreign investors will definitely attracted by the measures. Withholding taxes on trading in stock market has been waived off which will increase trade volumes and overall trading environment. Urea prices have been reduced by Rs. 200 per bag while taxes on components of diesel engines being used by farmers have been abolished which will benefit the agriculture sector.

The Former Minister said that small, medium and agriculture sectors have been given the incentives of...