ISLAMABAD, JAN 16 /DNA/ – Senior Vice President of the Islamabad Chamber of Commerce and Industry (ICCI) has urged the Prime Minister to take immediate and decisive redressal measures to stop the continued exit of firms from Pakistan, warning that the situation poses a serious threat to economic stability, employment generation, and investor confidence. He stressed that unless urgent steps are taken to rationalize the tax regime and reduce energy costs, the country risks further erosion of its industrial base and loss of competitiveness.
Referring to the Finance Minister’s recent admission that several firms have relocated abroad due to excessively high taxes and energy tariffs, the ICCI Senior Vice President said this acknowledgment validates the long-standing concerns of the business community. He pointed out that in some cases the cumulative tax burden has reached up to 55 percent, making it extremely difficult for businesses to survive and compete in regional and global markets.
He noted that such an unfavorable business environment is not only forcing local enterprises to shut down or relocate but is also severely discouraging foreign direct investment (FDI), which is vital for economic growth, technology transfer, and job creation. He emphasized that policy uncertainty, high cost of doing business, and lack of competitiveness are major impediments to attracting both domestic and foreign investors.
Despite these challenges, the ICCI Senior Vice President reaffirmed that the business community remains determined and resilient, committed to contributing to national development, expanding exports, and generating employment. However, he stressed that this determination must be supported by pragmatic government policies, sustained dialogue with stakeholders, and a business-friendly framework to ensure the long-term economic well-being of the country.
