By Our Correspondent
ISLAMABAD – Senior Vice President of the Lahore Chamber of Commerce & Industry (LCCI), Engineer Khalid Usman, participated in a high-level consultative meeting chaired by Prime Minister Shehbaz Sharif regarding the upcoming Federal Budget 2025-26. The session, held at the Prime Minister’s Office, was attended by several key federal ministers, top officials, and the Chairman of the Federal Board of Revenue (FBR).
Finance Minister Muhammad Aurangzeb and FBR Chairman Rashid Mahmood Langrial were among the prominent participants in the meeting, which aimed to gather insights from stakeholders and review policy options to improve the country’s economic performance in the upcoming fiscal year.
During the meeting, Engineer Khalid Usman gave a comprehensive briefing to the Prime Minister on the Lahore Chamber’s detailed budget proposals. His recommendations focused on industrial growth, tax reforms, and strategies to enhance ease of doing business in Pakistan. He highlighted the need for sustainable policies that can boost investor confidence and promote economic stability.
Engineer Usman emphasized the importance of lowering energy tariffs to relieve industrial and commercial consumers, calling it essential for making Pakistani products competitive in the international market. He also urged the government to reinstate the Final Tax Regime (FTR) for exporters and offer enhanced incentives to boost exports, particularly in non-traditional sectors.
The LCCI Senior Vice President also presented specific proposals to support Small and Medium Enterprises (SMEs), noting that this sector plays a vital role in job creation and national income but often remains neglected in policy frameworks. He called for easier access to finance, regulatory simplification, and targeted subsidies for SMEs to thrive in a challenging economic environment.
Additionally, Engineer Usman raised concerns about the complexity of the current tax system and stressed the need for comprehensive tax reforms to widen the tax base, reduce compliance costs, and curb harassment of taxpayers.
The Prime Minister appreciated the input from the business community and assured participants that the government is committed to developing a business-friendly, transparent, and growth-oriented federal budget. He directed the finance team and FBR to seriously consider the proposals put forward by the Lahore Chamber and other stakeholders.
The participation of the LCCI in the policy dialogue reflects the growing role of the private sector in shaping economic policies and its partnership with the government to steer the country towards economic revival.
About the Author
