The Union of Small and Medium Enterprises (UNISAME) on Friday appreciated the federal government’s reformative steps inn the budget to facilate business sctor, terming it helpful in boosting economy. The enhancement of tax exemption limit to Rs 400,000, the reduction of 0.5% in turnover tax, the limit of bank cash withdrawl exemption from Rs 25000 to Rs 50000, the reduction of custom duties on raw materials for medicines, increase in salaries of government servants by 20% and rationalization of federal excise duty, sales tax and custom duties on some items was highly appreciated by the union.
In a press release the President UNISAME Zulfikar Thaver said some of their demands have been accepted for which they are thankful that the finance minister Dr Abdul Hafeez Shaikh. However he said the SME sector expected that an economist like Dr Hafeez Shaikh would think beyond this and bring about dynamic changes to stimulate the economy.
