HCSTSI suggests targeted relief steps to boost economy
Memon emphasised that strengthening the business sector especially SMEs is vital to ensuring long-term economic stability. He stated that this is a critical opportunity for the government to stand firmly with the business community, especially amid ongoing tensions with neighbouring India, and send a strong message of national unity and economic strength to the global community.
He stressed the urgent need to empower SMEs by maintaining tax exemptions on solar and wind energy, and by granting subsidies on electricity and gas tariffs. These measures, he explained, would help lower production costs and make Pakistani goods more competitive in international markets.
To further support the sector, he called for easy access to low-interest loans, skill development He asked to allocate funds for the rehabilitation of SITE Area Hyderabad, especially road repairs, drainage, and water supply systems. He recommended a notable reduction in interest rates to encourage industrial growth and new ventures.
On the export front, he proposed relaxing advance tax requirements, introducing export development schemes, and improving access to untapped global markets. He emphasised expansion of youth-focused vocational training and suggested tax incentives to foster innovation, research, and digital transformation to align Pakistan's industry with global standards.
Memon also called for launching microfinance schemes and credit guarantee programs to promote financial inclusion. He strongly advocated for simplifying tax systems, licensing, and business registration to restore business confidence and foster government-business cooperation.
A major highlight of his proposal was the demand to revise the mandatory POS registration threshold for small businesses. He recommended increasing the limit to PKR 350,000 monthly or PKR 70 million annually, protecting small traders from undue pressure. To broaden the tax net, he advised compulsory registration of distributors, dealers, and large retailers, along with identifying non-filers through property ownership, foreign travel, and luxury expenditures such as elite school fees.
Copyright Business Recorder, 2025
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