Punjab's 2021-22 Budget To Help Promote Business Activities: RCCI

Faizan Hashmi Published June 17, 2021 | 02:41 PM

The Rawalpindi Chamber of Commerce and Industry has declared Punjab's financial budget 2021-22 as balanced which would help promote business activities

RAWALPINDI, (UrduPoint / Pakistan Point News - 17th Jun, 2021 ) :The Rawalpindi Chamber of Commerce and Industry has declared Punjab's financial budget 2021-22 as balanced which would help promote business activities.

President, Rawalpindi Chamber of Commerce and Industry, Nasir Mirza has said that more funds have been allocated for the development projects would increase business activities in the province.

The rate of sales tax on ten services has been reduced from 16% to 5% which is a good step, he said and suggested that its scope be extended to other sectors as well.

The Punjab government deserves appreciation on the 13% increase in education budget and 30% increase in health budget, he added.

Rs50 billion have been allocated for the sectors affected by the corona pandemic, he said, adding that there will also be relief from motor vehicle tax and tax exemption on electronic vehicles.

However, to make the installation of Point of Sale (POS) software more attractive, we propose to bring the sales tax rate to 5% instead of 12%, he added.