PESHAWAR: Sarhad Chamber of Commerce and Industry have pinned high hopes and the expectations that the upcoming budget 2025-26 will be growth oriented, industry friendly and tax-free.
SCCI president Fazal Moqeem Khan, senior vice president Abdul Jalil Jan, vice president Shehryar Khan and members of the chamber executive committee in a joint statement here on Tuesday stated that the business community expects a comprehensive industrial package, which is essential in sustainable economic growth and development.
While quoting certain reports regarding slapping new taxes in the upcoming budget, the senior office bearers said that the business community believes that the government could refrain from taking steps that could further burden the existing taxpayers.
Office bearers said that SCCI has always been vocal and demanded that the tax net has to be broadened and in order to meet the budget targets; there is a need to bring non-tax paying sectors into the tax net.
We expect that the Finance Minister will introduce measures that support and promote exports.
The business leaders expressed strong desires to implement policies that promote macroeconomic stability, control inflation, and ensure a stable exchange rate.
This stability provides a conducive environment for businesses to plan their investments and operations effectively, they added.
Office bearers furthermore said that the business community expects the government to introduce policies and reforms aimed at improving the ease of doing business in Pakistan.Drones
They advised that the government must introduce investment incentives and measures that encourage both domestic and foreign investments.
This may include tax breaks or exemptions for specific industries, subsidies for research and development, access to credit facilities, and measures to promote entrepreneurship and innovation, they elaborated.
Senior office bearers emphasized the need to enhance industrial competitiveness, promote exports, broaden the tax base, and eliminate structural inefficiencies in the economic framework.
The business leaders noted that the SME sector, which serves as a backbone of economic activity and employment, continues to struggle due to limited access to finance and an unsupportive regulatory framework.
SCCI office bearers urged the government to prioritise industrial growth and exports in the budget for FY26 by widening the tax base, capping business income tax at 25pc, abolishing the Super Tax, and reversing recent controversial amendments to the Income Tax Ordinance.
They called for a harmonised GST system, faster refunds, gradual reduction of sales tax, and abolition of the additional sales tax to reduce informality.
