KARACHI: The Pakistan Business Forum (PBF) has urged the government to reduce government sector expenditure by up to Rs3 trillion in the upcoming federal budget and present a clear economic roadmap focused on sustainable growth, investment, and business revival.
PBF Chief Organiser Ahmad Jawad said the forthcoming budget, which will be the government’s third since the general elections, must move beyond traditional revenue-generation measures and instead prioritize economic expansion, industrial competitiveness, and public relief.
Expressing concern over the country’s growing debt burden, Jawad noted that Pakistan’s national debt has increased from approximately Rs19 trillion to nearly Rs80 trillion over the past decade.
“The success of the upcoming budget will depend on whether the government can generate revenue from under-taxed sectors rather than continuing to place the bulk of the burden on the already documented business community,” he said.
The Forum stressed that the budget may reflect ground realities and provide meaningful relief to both businesses and the general public.
“The decision to enter the IMF programme was the government’s own choice.However, the IMF does not require government to place an additional burden on businesses and citizens every year. If the economy is to move forward, meaningful relief measures may be introduced,” Jawad added.
PBF also proposed abolishing the petroleum levy and replacing it with an 18 percent General Sales Tax (GST) on petroleum products to create a more transparent taxation framework in the Finance Bill scheduled to be presented on June 10.
Highlighting the importance of agriculture, Jawad described cotton as Pakistan’s “white gold” and called for targeted incentives and support measures to revive cotton production and strengthen the textile value chain.
He emphasized the need for concrete budgetary initiatives to promote the Blue Economy and modernize the agriculture sector, both of which have significant potential to drive sustainable growth and boost exports.
“The government must decide whether investment capital should flow towards industry and exports or continue to be diverted into real estate and speculative activities,” the Forum stated.
PBF also said the essence of the budget on June 10 should be to project Pakistan as an attractive destination for business, investment, and economic opportunity.
Addressing Prime Minister Shehbaz Sharif, Jawad said: “The business community still has high expectations from your leadership.We expect that the upcoming budget will not be merely a paper exercise or an accounting gimmick. It should not be based solely on revenue targets but should serve as a comprehensive framework for economic recovery and sustainable growth.”
Copyright Business Recorder, 2026
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