In spite of tough economic, financial, and climate change challenges, the federal government has presented a historic budget for the financial year 2023-24 by providing maximum relief to all segments of society including government employees, pensioners, laborers, and industries, thus laid a strong foundation to quickly turnaround the national economy and achieve economic prosperity.
Following massive losses to agriculture, livestock, fisheries, and forestry sectors by the last year’s devastating floods in Pakistan and global economic recession, the federal government came up with the people and farmers’ expectations by announcing a mega development and relief package for the uplift of agriculture-related industries, which is being widely appreciated in KP.
Shah Zaman, General Secretary, of KP Beekeepers Association on Saturday welcomed the abolishment of all taxes on imports of agricultural machinery, custom duties, and taxes on import of quality seeds and Rs30 billion allocation for shifting 50,000 tub wells on the solar energy that would help bring green and white revolution in Pakistan.
“The beekeepers were adversely affected by the last year’s catastrophic flooding in Khyber Pakhtunkhwa where many bees boxes and precious “Ber tree and Palosa” honey were wasted by the gushing water,” he recalled.
Shah Zaman suggested the plantation of “ber tree and palosa” by imposing a complete ban on the cutting of these trees to promote beekeeping and increase honey production in Khyber Pakhtunkhwa. Welcoming an increase in agricultural loans to Rs2250 billion, he said that allocation of Rs5 billion loans for agro-based industries besides abolishment of customs duties on invertor solars panels would help increase wheat, sugarcane, rice, and edible oil production in Pakistan.
Zahid Shinwari, former President, of the Sarhad Chamber of Commerce and Industry said that there are many good measures were announced in the budget 2023-24 focusing on the uplift of agriculture, seeds, and mechanization, IT-enabled exports, providing much-needed financial relief to the price hike-stricken employees and pensioners besides women SMEs. He said the reduction in minimum tax on listed companies is the right step, adding our economic challenges call for bold action to address the country’s inherited economic problems.—APP
