ISLAMABAD: Ahead of the presentation of the Federal Budget 2026-27 on June 5, Prime Minister Shehbaz Sharif held a high-level consultation with leading representatives of chambers of commerce and industry from across Pakistan, who urged the government to introduce tax relief measures, expedite refund payments, and implement structural reforms to accelerate economic growth.
During the meeting, business leaders presented a range of proposals aimed at enhancing industrial productivity, boosting exports, attracting investment, and improving the overall business environment.
Addressing the delegation, the prime minister stated that consistent efforts by the government had helped stabilize the economy and that the focus would now shift toward achieving higher and sustainable economic growth. He assured participants that the upcoming budget would include additional measures to support industry and increase production.
To address a longstanding concern of exporters, the prime minister directed the Federal Board of Revenue (FBR) to clear all pending tax refund claims by June 15. He also reaffirmed the government’s commitment to an export-led growth strategy and announced that the Export Finance Scheme rate would remain capped at 4.5 percent until June 2027, providing greater certainty to exporters despite changing monetary conditions.
In another significant decision, the prime minister approved the relocation of the headquarters of Pakistan Revenue Automation Limited to Karachi, underscoring the government’s intent to bring key tax administration functions closer to the country’s commercial center.
Responding to requests from business groups and overseas Pakistanis, he also directed the establishment of a passport office in Gujrat.
Prime Minister Shehbaz Sharif emphasized that reforms and facilitation for small and medium enterprises (SMEs) remain a central pillar of the government’s economic agenda. He also encouraged investors to explore opportunities in the local electric vehicle manufacturing sector, which is considered a promising area for future industrial growth.
Business representatives welcomed the government’s efforts to maintain economic stability and praised the leadership of Deputy Prime Minister Ishaq Dar and Field Marshal Syed Asim Munir during recent regional challenges. They also pledged support for expanding the tax base through digitalization and improved documentation of the economy.
The business community appreciated several ongoing initiatives, including the government’s housing scheme, reforms in the Export Development Fund, the privatization process of Pakistan International Airlines, FBR digitization efforts, and the implementation of e-invoicing systems.
However, industry leaders stressed that while policy announcements have been encouraging, businesses are now looking for swift implementation, policy consistency, and tangible results to strengthen investor confidence and sustain economic momentum.
The meeting was attended by senior representatives of the Federation of Pakistan Chambers of Commerce and Industry and chambers of commerce from Karachi, Lahore, Rawalpindi, Islamabad, Peshawar, Quetta, Gujrat, Gujranwala, and Sialkot, along with Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, Power Minister Awais Leghari, State Bank Governor Jameel Ahmad, FBR Chairman Rashid Mahmood Langrial, and other senior government officials.
Story by Zulfiqar Ahmad
