LAHORE: SM Tanveer, Patron-in-Chief of the United Business Group (UBG) and a prominent leader of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has described the federal budget for the fiscal year 2026-27 as a growth-oriented roadmap. He expressed confidence that the incentives outlined in the budget will play a pivotal role in reviving the national economy.
Key Fiscal Measures Welcomed
In a statement issued here, Tanveer welcomed several key fiscal measures introduced in the budget. These include the introduction of tax concessions, the abolition of the super tax on exporters, a 50% reduction in taxes on the real estate sector, the introduction of a fixed tax regime for shopkeepers, and tax relief for the salaried class. According to Tanveer, the business community had been consistently demanding such tax cuts to facilitate the transition of the economy from stabilisation to active growth.
Defence Budget and National Security
Tanveer also welcomed the increase in the defence budget. He lauded the leadership of Chief of Army Staff General Syed Asim Munir for his role in national defence and commended the joint efforts of the army chief and Prime Minister Shehbaz Sharif for the Islamabad peace talks.
Real Estate Sector Revival
Commenting on the tax relief aimed at reviving the real estate sector, Tanveer noted that he had been actively advocating for these measures over the past year. He emphasised that the real estate industry has the potential to trigger growth across roughly 80 allied industries, significantly boosting domestic economic activity.
"The economy can only flourish through export-led growth externally and the revival of domestic commerce internally," he stated. "The government has adopted an inclusive approach on both fronts to drive economic growth and create employment opportunities for the common man."
Tanveer praised the entire economic team for presenting a balanced, growth-oriented budget in the larger national interest.
