Tariq Haleem, the former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and former Chairman of the Pakistan Ship Agents Association, has expressed concerns about the upcoming federal budget. He stated that it is being prepared under strict conditions imposed by the IMF, which may pose additional challenges for the business community, industries, and the general public. Haleem urged the government to refrain from implementing measures that could hinder economic activity and negatively impact the investment climate.

He highlighted the ongoing shortfall in revenue collection targets, calling for a reassessment of the Federal Board of Revenue’s (FBR) aggressive tax policies. Instead of imposing further tax burdens on existing taxpayers, he suggested focusing on broadening the tax base so that more individuals and sectors contribute to the national treasury.

Haleem also advocated for a gradual reduction of the General Sales Tax (GST) rate to a single-digit level. Additionally, he called for special incentives and facilities for ship agents and the maritime trade sector in the federal budget to enhance national trade, improve port operations, and boost exports.

Furthermore, he emphasized the importance of reducing Pakistan’s reliance on external borrowing and taking concrete steps towards achieving economic self-reliance. He pointed out that the slowdown in economic growth and business activity is a serious concern, making it crucial to adopt policies that foster productive sectors and create job opportunities.