Lahore: Friends of Economic and Business Reforms (FEBR) President Kashif Anwar Tuesday hailing the amnesty for industrialists, reduction in petroleum prices and electricity tariff has said that it is high time that the government announce a general amnesty for the people at large all across the country as well .
In a statement issued, he said the decision if taken can prove instrumental in strengthening the economy even further. “The general amnesty will allow people invest their hidden and black money in the country thereby generating employment, increasing production, boosting exports and discoursing imports thereby saving important forex reserves” he explained.
Talking about the amnesty and reduction in POL prices he said that lowering the prices of petrol and diesel by rupees 10 per litre and Rs 5 relief per unit in electricity tariff will help Industrial sector to accelerate the economic growth and bring down cost of production which he added a key factor competing neighbouring countries
in global markets.
Appriciating the Prime Minister Imran Khan’s land mark decision of stabalising the prices of petroleum products and electricity till next annual budget, he said it will have far reaching positive impact on national economy and reduce inflation.
Kashif highlighted that oil prices directly affects the prices of per unit cost.
He said it’s also very prudent decision for the restoration of sick industries by offering relief in tax benefits and revival will contribute significantly towards economic growth.
He said 100 percent tax exemption for both companies and freelancers is a right step in right direction while 10O percent exemption for capital gain tax for investment in IT and starts up will promote IT sector in Pakistan.
“Five years tax holiday will attract foreign investment in joint ventures with 10O percent foreign exchange exemption, he said adding that the grant of plenty of loans on easy terms and conditions to youth and farmers will provide ample jobs opportunities through self employment.
About Kamyab Pakistan program,he said huge amount of Rs 407 billion subsidised loans will be advanced during the next couple of years in addition to easy loans for construction of low cost houses across the country.
said it’s remarkable decision of Prime Minister to allocate rupees 38 billion for disbursement of 2.6 million scholarships throughout the country on merit which he added will provide chances to bright students to pursue higher studies.
He said award of Rs 30,000 monthly stipend to each jobless graduate under internship scheme will provide sense of responsibility among youths.
Talking about the amnesty for industry ‘ the president said that FEBR has been demanding the industrial amnesty since the government took over the reins of the the country however finally good sense has privailed and the government has introduced the amnesty.