LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Faheem Ur Rehman Saigol met with Federal Minister for Finance and Revenue Muhammad Aurangzeb on Thursday to present the chamber’s budget proposals for the upcoming fiscal year. The proposals focused on industrial revival, export growth, tax reforms, and reducing the cost of doing business in Pakistan.
Finance Minister Aurangzeb welcomed the comprehensive proposals and acknowledged the LCCI’s constructive role in highlighting the challenges faced by the business community. He directed Dr Najeeb Ahmed Memon, Director General of the Tax Policy Office, to review the chamber’s recommendations in detail.
During the meeting, the minister informed the LCCI president that the Federal Board of Revenue (FBR) is further strengthening its digitisation process through Pakistan Revenue Automation Limited (PRAL). He said the ongoing reforms aim to minimise human interaction, facilitate taxpayers, and improve the overall business environment across the country. Aurangzeb also assured that consultations with chambers of commerce and the broader business community would continue on a regular basis to ensure meaningful stakeholder engagement in economic policymaking.
LCCI President Saigol praised the finance minister for maintaining continuous liaison with the private sector and for keeping stakeholders informed on key economic and taxation matters. He stressed that consistent engagement between the government and the business community is essential for restoring business confidence, promoting industrial growth, and achieving sustainable economic stability.
The LCCI’s budget proposals called for an end to policy instability driven by frequent statutory regulatory orders (SROs) and shifting tax interpretations, describing such unpredictability as a leading cause of de-industrialization. The chamber also urged the government to reduce the cost of doing business, which it said is currently 22 to 30 percent higher than in competing regional economies.
Among the key recommendations, the LCCI proposed the introduction of a sector-wise tariff structure to shield domestic industries from unfair regional competition, as well as the restoration of a simple and predictable Final Tax Regime (FTR) for exporters. The chamber also called for a fixed tax regime for traders to help broaden the national tax base.
Additional proposals included the timely payment of tax refunds with compensation for delays, a reduction in withholding tax disparities between manufacturers and commercial importers, revision of Section 113 for low-margin sectors, and a review of Section 7E to encourage documented investment. The chamber further advocated for uniform tariff and tax treatment across all regions, including FATA and PATA, along with the gradual removal of advance taxes and a shift of taxation to the point of sale.
Copyright Business Recorder, 2026
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