LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) leader and Patron-in-Chief of the United Business Group (UBG), S M Tanveer, has called on Prime Minister Shehbaz Sharif to adopt export-led growth policies in the upcoming federal budget to accelerate economic recovery and industrial expansion.
Leading a delegation of chamber representatives along with Atif Ikram Sheikh, Tanveer met the prime minister and members of the federal cabinet to discuss budget proposals and economic challenges facing the business community.
During the meeting, Tanveer praised Prime Minister Shehbaz Sharif and General Asim Munir for their diplomatic efforts in helping reduce regional tensions, expressing hope that their role in promoting peace would be remembered positively in history.
Presenting a range of budget recommendations, Tanveer stressed the need for measures to boost exports, noting that Pakistan’s exports have remained stagnant at around USD 30 billion. He proposed a 10 percent Duty and Local Taxes Rebate (DLTL) to support consistent export growth and called for a regionally competitive electricity tariff of less than nine cents per kilowatt-hour. He also urged the government to lower industrial tax slabs and criticized the super tax, claiming it imposes an annual burden of approximately Rs300 billion on businesses.
Commenting on monetary policy, Tanveer criticized the State Bank of Pakistan’s recent 100-basis-point increase in the policy rate, arguing that inflation is largely driven by international oil prices rather than domestic credit expansion. He said the rate hike had increased the government’s debt-servicing costs by around Rs 600 billion while discouraging industrial investment and growth.
Among other proposals, Tanveer recommended the introduction of a financing facility similar to the Temporary Economic Refinance Facility (TERF) for the construction and allied sectors, the abolition of Sections 236-C and 236-K, and an increase in the low-income housing finance limit from Rs10 million to Rs30 million to facilitate middle-class homebuyers.
He also suggested simplifying the existing 147-page tax return form into a single-page document and automatically converting bank depositors’ CNICs into National Tax Numbers (NTNs) to broaden the tax base and improve compliance.
Copyright Business Recorder, 2026
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