‘Export-oriented budget key to sustainable development’

SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik. — APP/File

LAHORE:SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik on Friday emphasised that a well-structured, export-driven, business-friendly, and pro-poor national budget is essential to accelerating industrialisation and ensuring sustainable development across Pakistan.

In a statement issued here, he said such a budget framework not only creates employment opportunities and alleviates poverty but also strengthens Pakistan’s competitive position in the global economy, laying the groundwork for long-term economic resilience and prosperity.

He stressed that policies promoting investment, innovation, and international trade must be prioritised, as they help build a solid foundation for economic expansion.‘A business-friendly regulatory environment backed by budgetary measures fosters entrepreneurship and draws both domestic and foreign direct investment,’ he noted. He also highlighted the importance of simplified tax structures, targeted regulatory reforms, and incentives for small and medium-sized enterprises (SMEs) in creating an enabling ecosystem for business growth and technology transfer. He further underlined the need for rationalising national tariff policies in line with the legitimate demands of various economic sectors.

‘A growth-oriented budget must allocate adequate resources toward infrastructure, energy, education, and technology, all critical pillars of industrial advancement,’ he asserted. Enhancing transport systems, ensuring reliable energy supply, and expanding digital connectivity reduce business costs and improve productivity, he added.

He also advocated for investments in skill development and innovation hubs to build a future-ready workforce and encourage industrial diversification. ‘Export promotion must remain a central focus,’ he said, adding that free trade agreements, streamlined customs procedures, and export incentives can help open new international markets, increase foreign exchange earnings, and reduce trade imbalances. He called for tangible relief measures for the underprivileged segments of society, stating that they are looking to the government with high hopes for support in the upcoming budget.

LCCI lauds FTO for swift resolution of tax grievances

The Lahore Chamber of Commerce and Industry (LCCI) and members of the industrial sector have praised the Federal Tax Ombudsman (FTO) for his exceptional performance in resolving genuine tax-related complaints within a record timeframe of just 45 days.

Talking at an awareness session held on Friday, Coordinator to the FTO, Saif Ur Rehman, emphasised the importance of a prompt grievance redress mechanism for businesses, particularly in light of the complex tax issues often faced by industrialists.Prolonged disputes, he noted, can severely disrupt business operations and cash flow.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}