Former Vice President of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Tariq Haleem, has expressed significant concern that the federal budget for FY2026–27—being drafted under strict International Monetary Fund (IMF) conditions—could impose severe challenges on the business community, industries, and the general public. He has strongly urged the government to refrain from implementing measures that might stifle economic activity or harm the country's investment climate.
Calls for Tax Reform and Economic Strategy
Haleem highlighted the need for a strategic shift in fiscal policy, particularly regarding revenue collection:
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The government should review the aggressive policies of the Federal Board of Revenue (FBR) in light of ongoing shortfalls in revenue targets.
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Authorities must prioritize broadening the existing tax net to include untapped sectors and individuals rather than placing further financial burdens on those already paying taxes.
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There is an urgent demand to gradually reduce the General Sales Tax (GST) rate to a single-digit figure.
Support for Maritime Trade and Self-Reliance
To bolster national trade and exports, Haleem advocated for the introduction of special incentives specifically designed for ship agents and the maritime trade sector. Furthermore, he emphasized that Pakistan must move toward economic self-reliance by reducing its heavy dependence on external borrowing. He concluded by noting that current concerns over slowing economic growth make it imperative for the government to adopt policies that prioritize productive sectors and job creation.
