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KARACHI, June 10, 2026: Former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and former Senior Vice President of the Karachi Chamber of Commerce and Industry (KCCI), Hanif Lakhani, has urged the government to incorporate recommendations submitted by trade associations, chambers of commerce, and FPCCI in the Federal Budget 2026-27.
He said the government should focus not only on increasing revenue and maintaining economic stability but also on promoting sustainable economic growth.
Furthermore, Lakhani stressed the need to simplify the tax system and make it more business-friendly. According to him, these measures can boost economic activity and attract both local and foreign investment.
He added that the government must move beyond promises and take practical steps to support businesses and industries.
Moreover, Lakhani emphasized the importance of providing affordable electricity, gas, and other energy sources to the industrial sector. At the same time, the government should reduce production costs to help exporters compete effectively in international markets and achieve export targets.
In addition, he advised the government to expand the tax net instead of imposing new taxes. He urged authorities to bring the undocumented economy into the formal sector and increase the number of taxpayers.
He also called for a review of customs and regulatory duties. According to him, lower duties on raw materials and industrial machinery would reduce costs and encourage industrial expansion.
Meanwhile, Lakhani highlighted the importance of targeted incentives. He said special support for the IT, agriculture, construction, and export-oriented sectors could significantly accelerate economic growth.
Commenting on tax reforms, he noted that expanding the tax net would remain one of the biggest challenges for the Federal Board of Revenue (FBR) in the upcoming budget.
However, he expressed confidence in the leadership of the current FBR chairman. He said successful tax net expansion would increase revenue collection and, at the same time, reduce the burden on existing taxpayers who already contribute to the national exchequer.
