During the meeting, the finance minister appreciated the proposals submitted by the Lahore Chamber and acknowledged the important role chambers of commerce play in highlighting the concerns of the business community.
He directed Director General Tax Policy Office Dr Najeeb Ahmed Memon to conduct a detailed review of the recommendations.
The finance minister said the digitalization process within Federal Board of Revenue (FBR) is being further strengthened to reduce human intervention, facilitate taxpayers, and improve the business environment.
He added that consultations with the business community would continue as part of the government’s economic policymaking process.
In its proposals, the Lahore Chamber stated that frequent issuance of SROs and varying interpretations of tax laws are creating policy uncertainty, contributing to industrial decline and de-industrialization. The chamber urged the government to reduce Pakistan’s high cost of doing business, which it said remains significantly higher than that of regional competitors.
The chamber also proposed separate tariff structures for different industries, restoration of a simple and predictable Final Tax Regime (FTR) for exporters, and the introduction of a fixed tax system for traders to help broaden the tax net.
Other recommendations included timely payment of tax refunds, relaxation in tax laws for low-margin sectors, gradual elimination of advance taxes, implementation of a uniform tax and tariff regime across all regions including former FATA and PATA areas, and real-time data sharing for effective monitoring of the Export Facilitation Scheme.
The Lahore Chamber further called for the promotion of IT and digital services, expansion of vocational training programs linked with industry, facilitation of third-country trade, and removal of the 18 percent sales tax on packaged dairy and meat products.
Speaking on the occasion, Faheem ur Rehman Sehgal said continuous engagement and consultation between the government and private sector are essential for restoring business confidence, promoting industrial growth, and achieving sustainable economic stability.
