ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) on Wednesday has lauded the federal government’s decision to enhance the defense budget, terming it a timely move in response to growing regional threats, particularly in the aftermath of the Operation ‘Banyan Marsoos’.
In a comprehensive response to the Federal Budget 2025-26, ICCI President Nasir Mansoor Qureshi, Senior Vice President Abdul Rehman Siddiqui and Vice President Nasir Mehmood Chaudhry welcomed the government’s initiative to streamline governance by proposing the merger or abolition of 45 government entities.
They emphasized the pressing need to privatize all loss-making public sector enterprises to reduce fiscal burden and enhance efficiency.
The ICCI leadership appreciated tax relief measures for the salaried class and the introduction of a simplified income tax return form for SMEs and individual taxpayers, calling it a step in the right direction.
Unless the energy and borrowing costs are urgently addressed, many businesses could face challenges, he added.
The ICCI President further urged the government to offer targeted incentives to unlock the immense potential of the oil & gas, and mining and minerals sectors, to attract much-needed foreign investment.
