LCCI President presents budget proposals to Finance Minister

Finance Minister appreciated the comprehensive proposals submitted by the LCCI and acknowledged the Chamber’s constructive role in highlighting the challenges being faced by the business community

LAHORE: (UrduPoint/UrduPoint / Pakistan Point News- May 7th, 2026) Lahore Chamber of Commerce and Industry President Faheem Ur Rehman Saigol on Thursday met with Federal Minister for Finance and Revenue Muhammad Aurangzeb and presented the LCCI’s budget proposals for the upcoming fiscal year, focusing on industrial revival, export growth, tax reforms and reduction in the cost of doing business.

The Finance Minister appreciated the comprehensive proposals submitted by the LCCI and acknowledged the Chamber’s constructive role in highlighting the challenges being faced by the business community. He directed Director General, Tax Policy Office, Dr. Najeeb Ahmed Memon, to review the proposals presented by the LCCI.

During the meeting, the Finance Minister informed the LCCI President that the digitization process within the Federal board of Revenue (FBR) is being further strengthened through Pakistan Revenue Automation Limited (PRAL). He said the reforms are aimed at minimizing human interaction, facilitating taxpayers and improving the overall business environment in the country.

Muhammad Aurangzeb further said that consultations with chambers of commerce and the business community would continue on a regular basis to ensure effective stakeholder engagement in economic policymaking.

LCCI President Faheem Ur Rehman Saigol appreciated the Finance Minister for maintaining continuous liaison with the business community and for taking stakeholders into confidence on key economic and taxation matters. He said that consistent engagement between the government and private sector is essential for restoring business confidence, promoting industrial growth and achieving sustainable economic stability.

The LCCI budget proposals called for an end to policy instability caused by frequent SROs and shifting tax interpretations, terming unpredictability as one of the major reasons behind de-industrialization. The Chamber also urged the government to reduce the cost of doing business, which it said is currently 22 to 30 percent higher than competing regional economies.

The Chamber proposed the introduction of a sector-wise tariff structure to protect domestic industries operating under significantly higher costs than regional competitors. It also demanded restoration of a simple and predictable Final Tax Regime (FTR) for exporters and the introduction of a fixed tax regime for traders to broaden the tax base.

Among other proposals, the LCCI stressed timely payment of tax refunds with compensation for delays, reduction in withholding tax disparity between manufacturers and commercial importers, revision of Section 113 for low-margin sectors and review of Section 7E to encourage documented investment.

The Chamber also proposed uniform tariff and tax treatment across all regions including FATA and PATA, gradual removal of advance taxes with taxation shifted to the sales stage, and stronger monitoring of the Export Facilitation Scheme (EFS) through real-time data sharing and post-clearance audits.

The LCCI further emphasized export diversification, support for value-added and capital goods sectors, declaration of a vocational training emergency with industry-linked programs, promotion of IT and digital services, facilitation of third-country trade transactions through State Bank reforms and removal of the 18 percent sales tax disadvantage on packaged dairy and meat products.