LAHORE: The President of the Lahore Chamber of Commerce and Industry (LCCI), Faheem-ur-Rehman Saigol, on Wednesday urged the federal government to overhaul its taxation framework and reduce energy tariffs, warning that Pakistan’s industrial sector is caught in a deepening cycle of de-industrialization.
Saigol made the remarks during a meeting of the Senate standing committee on finance at Parliament House, chaired by Senator Saleem Mandviwalla. The session, attended by chamber presidents from across the country alongside representatives of the ministries of commerce, finance and customs, was convened to review pre-budget proposals ahead of the upcoming federal budget.
Addressing the committee, Saigol said the persistently high cost of doing business, driven by excessive taxation and surging electricity and gas tariffs, had severely eroded industrial competitiveness and deterred investment. He called for the restoration of the final tax regime, a reduction in corporate tax rates and the elimination of additional levies, stressing that a stable and predictable policy environment was essential to revive industrial activity and boost exports.
Saigol also flagged the misuse of the Export Facilitation Scheme (EFS), urging the government to enforce stricter controls to ensure the facility reaches only genuine exporters. He cautioned that export-led growth would remain unattainable without first correcting structural distortions in the taxation and tariff regimes.
On human capital, the LCCI president called for greater budgetary investment in technical and vocational training, arguing that equipping Pakistan’s youth with modern skills was critical to competing in global markets and achieving sustainable economic growth.
Copyright Business Recorder, 2026
Comments