KARACHI: Former Vice President of FPCCI, Tariq Haleem has said that the upcoming federal budget, being formulated under the stringent conditions of the IMF, may create further difficulties for the business community, industries, and the general public.
He urged the government to avoid measures that could slow down economic activity and negatively affect the investment climate.
Tariq Haleem stated that the persistent shortfall in revenue collection targets calls for a review of the Federal Board of Revenue’s (FBR) aggressive policies.
Instead of placing additional tax burdens on existing taxpayers, efforts should be focused on broadening the tax net so that more individuals and sectors contribute to the national exchequer.
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He further demanded that the General Sales Tax (GST) rate be gradually reduced and brought down to a single-digit level. He also called for special incentives and facilities for ship agents and the maritime trade sector in the federal budget to strengthen national trade, port operations, and exports.
Tariq Haleem emphasized that Pakistan should reduce its dependence on external borrowing and take practical steps toward economic self-reliance.
He noted that the slowdown in economic growth and business activity is a matter of serious concern, making it essential to adopt policies that promote productive sectors and create employment opportunities.
Copyright Business Recorder, 2026
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