RAWALPINDI - Syed Ali Raza Saeed, the Acting President of Rawalpindi Chamber of Commerce and Industry (RCCI), said that 50 percent cut in Capital Value Tax in the Punjab budget for fiscal year 2010-11 would boom the business activities in the region. He said this while talking to a delegation of traders and industrialists here at his office on Tuesday. He said that 25 percent reduction in the expenses of Chief Ministers Secretariat and the same decrease for the ministers office would set an example for the other provinces. It is need of the hour to act practically instead of giving statements just for nothing, he added. Syed Ali said, Before the implementation of the NFC Award, the Federal Government collected 4 percent in terms of the Capital Value Tax but after the NFC implementation it was transferred to the provincial government and the Punjab government reduced its ratio from 4 to 2 percent. He said that Rs 59.26 billion had been earmarked for the social and industrial sectors in the budget. Government must resolve the energy crisis at the earliest to run the industry, he suggested. He hailed the project of establishing Cardiology Institute in Rawalpindi by the Punjab Government and said that it was the longstanding demand of the people of that region.