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Business Recorder
21-05-2025
- Business
- Business Recorder
SCCI presents budget proposals for FY 2025-26
PESHAWAR: Sarhad Chamber of Commerce and Industry presented its budget proposals for the fiscal year 2025-26. In the budget proposals, the SCCI urged the government to rationalize taxes by making reduction in their ratio at optimal level, broadening tax-base and refraining from imposition of new taxes. SCCI also sought reduction in duties on import of raw material/items and pragmatic steps for simplifying the existing taxation system. It emphasized that the government should announce a special budget for the development of small and medium industry. The budget proposals said soft loans should be provided to SMEs, especially start-up businesses, women entrepreneurs so that they will also equally contribute to the economic growth and development of the country. The chamber demanded that a special fiscal relief package and tax cessions for next five years should be announced for war-torn Khyber Pakhtunkhwa. Budget is a true reflection of the government policies, which should be made people as well as business-friendly, says Fazal Moqeem Khan, president of the Sarhad Chamber of Commerce and Industry while talking to this scribe here on Tuesday. He said that the budget coming at the time of economic take-off will set the roadmap for the future and added that there is need to build a sustainable basis for reducing electricity prices. The SCCI chief urged the government to take new policy measures aimed at promoting the documented economy that would help improve the tax revenue collection and achieve sustainable growth. Emphasizing on elimination of unregistered and illegal business/ trade as highly beneficial for the national economy, he said it is necessary that the informal economy sector should bring in formal economy. Fazal Moqeem emphasized the need for reduction in electricity, gas tariff and urged the government to focus on renewable energy in a bid to significantly reduce the cost of production and pave the way for rapid revival of the economy. Talking about the solar policy, he said that the policy should be prepared in a way that it covers the interest of both the government and consumers. He sought repealing all agreements with IPPs. Coordinated implementation of policies through SIFC and measures in the budget are essential, SCCI chief stressed. Fazal Moqeem Khan while addressing pre-budget session in Peshawar University asserted the industrial sector needs to be further promoted. He highly backed privatizing loss-making State-Owned Enterprises (SOEs), stating that it can provide long-term stability to the government's financial and budgetary position. Regarding the agricultural sector, SCCI chief said it is the backbone of Pakistan's economy and suggested that the government should take maximum steps in the budget to facilitate farmers. Sustainable water use system, construction of new water storages should be a priority, he added. About the construction sector the president suggested that a special package should be announced in the budget for the revival of the construction sector. Fazal Moqeem emphasized that tariff policy should be made to discourage imports and promote local products. Copyright Business Recorder, 2025
Express Tribune
30-03-2025
- Business
- Express Tribune
Coordination between government, businessmen urged
Sarhad Chamber of Commerce and Industry (SCCI) President Fazal Moqeem Khan has said the government needed to meet tax targets and enhance revenue which could only be achieved through the collection of various taxes by the business community. Moqeem, in a press statement issued on Saturday, said hurting business and trade was tantamount to inflicting losses on the economy. Therefore, he emphasized, the government should take collective initiatives and resolve all issues through proper consultations and mutual consensus. The SCCI chief mentioned that action had been taken against a restaurant yesterday which was an attempt to discourage investors and the business community, and urged that steps damaging business and economic activities be avoided. He stressed that it was a dire need of the hour that the government understand the current economic conditions and prevailing circumstances, and emphasized the need for building consensus between both sides on the issue. Under the collective approach, the government must take the business community into confidence through positive collaboration, the SCCI chief added. He went on to say that, instead of adopting harsh measures, strict implementation, and the closure of businesses and economic activities, the government should provide a relocation chance to the business community. He added that the chamber, business community and stakeholders should be consulted before taking any such initiatives to prevent creating a gulf between government, institutions and business community so that they can continue to play a role in economic development through the payment of various taxes. The SCCI chief demanded that the government officials who had issued the No-Objection Certificate (NOC) for the establishment of the restaurant 25 years ago be brought to justice.
