Budget 2025-26: Traders for elimination of double taxation, cut in ST rate on services
PESHAWAR: Traders through various proposals for the Khyber Pakhtunkhwa fiscal budget for 2025-26, has urged the provincial government to abolish double taxation, especially property tax, easing process of KPRA audit, reduction in ratio of Sale Tax on Services, bringing reforms in trade and business-related institutions, and complete abolishment of provincial Infrastructure Development Cess on export, curtailing tax/fees of property registry and elimination of anti-business actions and make legislation, reforms through appropriate amendment and to present a business-friendly budget.
Business community asserted deletion of harsh coercive provisions in the law governing business and industry in the provincial fiscal budget 2025-26, while emphasising on provision of subsidised SME financing through Bank of the Khyber, taking serious note over advance to deposit ratio 0.9 percent advance against 16 percent provincial deposit, besides made demand for pragmatic steps for ease of doing business, gas supply on priority basis to industrial consumers as per granted by the Constitution.
Traders called for maximized provincial hydel power utilisation through early execution of transmission lines and adding 80-85 megawatt electricity into the grid station, besides proactive measures for maintenance of law and order and reduction of the heavy burden of various provincial taxes, war-footing initiatives for completion of the northern bypass and Ring Road, underpasses on identified locations in the city.
SCCI presents budget proposals for FY 2025-26
Business community wanted immediate withdrawal, recently introduced by the provincial government Godown Act 2025.
Legislation for institutionalising provincial department-based on the Dispute Resolution Council mechanism with representation of all relevant departments, stakeholders and business community in the forum should be carried out, traders demanded.
It has been asked by the provincial government to incorporate SCCI proposals in the upcoming provincial budget 2025-26.
These budget proposals presented during a joint meeting with Khyber Pakhtunkhwa Minister on Excise and Taxation Khaleequr Rehman, KP Minister for Revenue Nazeer Advisor to Khyber Pakhtunkhwa government on Finance Muzammil Aslam, SACM on industries Abdul Karim Khan here at the Sarhad Chamber of Commerce and Industry, which chaired by SCCI president Fazal Moqeem Khan.
Office-bearers of the chamber, traders, industrialists and importers and exporters were present in a large number.
Later, the provincial ministers and advisors of the KP government agreed with proposals and assured the SCCI and stakeholders to make appropriate amendments in harsh laws, policies as per constitution limits and also incorporate the business community proposals in the upcoming provincial budget 2025-26.
Copyright Business Recorder, 2025
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