ICMA Pakistan hails budget

LAHORE: The Institute of Cost and Management Accountants (ICMA) Pakistan praised the federal government for presenting a growth-oriented budget and restoring the zero-rated regime for the five export-oriented sectors.

President Iqbal Ghori at ICMA Pakistan, in a statement, said this incentive would mobilise working capital and improve liquidity position of exporting industry, which would eventually help them to compete better in the international market.

“Keeping in view the decline in the growth of agriculture sector in the last fiscal year, the lucrative incentives announced in budget for this sector was the need of the hour and it would provide stimulus to the growth of other sectors as well which are dependent on agriculture for raw material input such as textiles, food industry,” Ghori said.

He hoped that the agricultural package would certainly bear fruit in the forthcoming fiscal year.