No package given to exporters under URAAN Pakistan: FCCI
FAISALABAD: Expressing his immediate reaction to the Finance Minister's presentation of the annual budget for 2025-26, President of the Faisalabad Chamber of Commerce and Industry President Rehan Naseem Bharara said that he was expecting that there would be a discussion on the reduction in electricity prices and markups in terms of revival of industries and production costs, but unfortunately this situation was not clarified. He said no package has been given to the exporters to increase exports to $60 billion under URAAN Pakistan.
He appreciated the reduction in tax rates for the salaried class and the reduction in federal excise duty on the construction sector and said that 18% increase in the tax collection target has been proposed, but it was not stated how this would be possible.
He said that apart from some restrictions on non-filers, no clear steps have been taken to abolish this system. He said that the government is trying to promote green energy but 18% general sales tax has been imposed on imported panels.
He said that we had high expectations from the current budget, but perhaps it can be improved through future amendments.
Regarding the construction sector, Rehan Naseem Bharara said that there is a shortage of 15 million houses in the country. We had suggested that a house worth 10 to 15 million rupees should be exempted from all types of taxes.
He said that the government has taken a good step by abolishing federal excise duty on commercial property, but no extraordinary steps have been taken regarding agriculture and exports. He said that the weaving industry is currently doing well.
He said that urgent steps will have to be taken to increase IT exports and develop the industrial sector.
Copyright Business Recorder, 2025
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