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Budget on June 15

Rupee not to be devalued: Shaukat

KHALID ABBAS SAIF

FAISALABAD: The Pak currency would not be devalued, and the federal budget for 2000-2001 would be announced on June 15 next, said Shaukat Aziz, Federal Minister for Finance while talking to newsmen here at the Apcea function on Saturday evening before proceeding to Islamabad.

Giving some salient features of the future federal budget, the finance minister said that some vital fiscal measures would be taken in April, after consulting traders' associations of the country.

He said that the chambers of commerce and industry, traders associations and other bodies have been asked to formulate their budget suggestions and forward them to the ministry of finance sufficiently ahead of the preparation of budget.

The minister said that the government attaches great importance to business community, and assured that their proposals would surely be incorporated in the forthcoming federal budget.

The minister said that the government was determined to eliminate smuggling of consumer goods, and added that strict measures were being taken to eradicate this menace. He said that the items of bilateral trade with Afghanistan are being reduced to the minimum.

He said that Pakistani borders were being tightened to avert the chances of smuggling into Pakistan. He, however, said that an amnesty programme for 'Bara markets' was under consideration of the government, under which the traders and businessmen dealing in smuggled goods would be asked to come into tax net.

He said that the government would fix a deadline for stoppage of the smuggling and disposal of the piled up smuggled goods after payment of duty. He added that after the expiry of this date, the government would arrange a crackdown on those dealing in smuggled items.

About the anomalies in the disbursement of the textile quota, the finance minister said that the irregularities in the quota were being probed and those found guilty would not be spared.