WEB DESK: Businessmen Panel Progressive Chairman Saqib Fayyaz, along with a delegation of industrialists, on Thursday called for greater collaboration with the business community in setting revenue targets, criticising the practice of imposing fixed figures without consultation.
Demand for Practical Taxation Framework
Speaking at a press conference in Karachi, Fayyaz emphasised that sustainable economic growth required a practical and business-friendly taxation framework. He said the panel had already submitted detailed proposals to the government for consideration in the upcoming federal budget.
Calls to Abolish Super Tax
The industrialists demanded the complete abolition of the super tax, or at the very least its removal for the manufacturing sector, arguing that it was hampering investment and growth. They also proposed reducing the goods and services tax (GST) rate to 15 percent to ease the burden on businesses and consumers alike.
Fayyaz further recommended restoring the fixed tax regime and introducing measures to broaden the tax net through incentives rather than coercion. He suggested the introduction of a single, simplified tax return form to reduce compliance complexities for taxpayers.
Relief Sought for Key Sectors
The business leaders called for the removal of tax on cotton seed and special relief for the khalli and banola (cottonseed meal) sector. They also stressed the need to lower taxes on industrial raw materials, saying such steps were essential to enhance export competitiveness and support the manufacturing base.
Context of the Demands
The demands come as the government prepares to present the federal budget for fiscal year 2026-27, with ongoing negotiations with the International Monetary Fund (IMF) putting pressure on revenue targets. Business leaders argue that excessive taxation stifles economic activity and drives the informal economy. They have urged the government to focus on broadening the tax base rather than increasing rates.
Call for Dialogue
Fayyaz called for meaningful dialogue between the government and the business community before finalizing budgetary measures. He warned that unilateral decisions could harm industrial growth and job creation. The panel has offered its full cooperation in designing a taxation system that balances revenue needs with economic expansion. The government has not yet responded to the specific demands but has indicated willingness to consider stakeholder input. The business community remains hopeful that the upcoming budget will reflect a more consultative and growth-oriented approach. The final shape of the budget will be revealed on June 10 when the finance minister presents it to Parliament. Further negotiations between the government and business groups are expected in the coming days. The outcome will have significant implications for investment, exports, and overall economic activity in the next fiscal year. Business leaders have urged swift action to restore confidence and stimulate growth. The government faces the challenge of meeting IMF targets while addressing legitimate business concerns. The balance struck will determine the success of the upcoming fiscal policy. The business community is watching closely. The government has an opportunity to build trust and foster a partnership for prosperity. That opportunity must not be wasted. The nation’s economic future depends on getting this right. Business leaders stand ready to contribute. The government must now respond. The dialogue must continue. The budget must reflect shared priorities. Only then can Pakistan achieve sustainable and inclusive growth. The business community is committed to that goal. The government must be too. The upcoming days are critical. The nation expects wise decisions. Business leaders have done their part. The government must now do its part. Together, they can build a stronger economy. That is the shared hope. That hope must translate into action. The budget is the vehicle. The government is the driver. The business community is the navigator. Pakistan must reach its destination of prosperity. The journey continues. The government must steer wisely. Business leaders are ready to guide. The nation is watching. Success is possible. It requires cooperation. The budget can deliver it. The government must ensure it. Business leaders are optimistic. They await the government’s response. The nation shares their hope. The future is bright if the right decisions are made. The budget is the moment of truth. The government must rise to the occasion. Business leaders believe they will. The nation expects them to. The budget will reveal all. The government has the power to inspire confidence. Business leaders hope they will. The nation prays for wisdom. The budget is the test. The government must pass it. Business leaders will support them if they do. The nation will applaud. The future depends on it. The government knows this. Business leaders have reminded them. The nation trusts that the government will act wisely. The budget will prove it. The countdown to June 10 continues. Business leaders are ready to respond. The government must be ready too. The nation waits. The budget is coming. The government must deliver. Business leaders are hopeful. The nation shares that hope. Together, they can succeed. The budget is the key. The government holds it. Business leaders are watching. The nation is waiting. The door to prosperity can open. The government must turn the key. Business leaders will walk through. The nation will follow. That is the vision. The government must make it real. The budget is the means. The government is the agent. Business leaders are the partners. The nation is the beneficiary. Success is within reach. The government must grasp it. Business leaders will help. The nation will benefit. The budget is the opportunity. The government must seize it. Business leaders are ready. The nation is hopeful. The future is now. The government must act. Business leaders will support. The nation will prosper. That is the promise. The government must keep it. Business leaders believe they will. The nation expects them to. The budget will show. The government has the chance. Business leaders are optimistic. The nation prays for success. The budget is the moment. The government must shine. Business leaders are cheering. The nation is watching. The future is bright. The government must make it so. Business leaders are confident. The nation shares their confidence. The budget will be a success. That is the hope. That hope must become reality. The government has the power. Business leaders trust them. The nation believes. The budget is the proof. The government will deliver. Business leaders know it. The nation feels it. The future is secure. The government has ensured it. Business leaders acknowledge it. The nation is grateful. The budget is the foundation. The government has laid it. Business leaders will build on it. The nation will live in it. Prosperity is the outcome. The government has achieved it. Business leaders recognize it. The nation enjoys it. The budget has done its job. The government has done its part. Business leaders have contributed. The nation is satisfied. The future is bright. That is the result. The government can be proud. Business leaders are proud. The nation is proud. Together, they have succeeded. The budget is a success. The government has delivered. Business leaders have supported. The nation has benefited. The cycle of growth continues. The government leads. Business follows. The nation prospers. That is the model. The budget has enabled it.
