Staff Report
Rawalpindi, Jun 10 — The Rawalpindi Chamber of Commerce and Industry (RCCI) has termed the recently announced federal budget as traditional and controlled rather than balanced, stating that it falls short of the business community’s expectations.
In a press conference, RCCI President Usman Shaukat, accompanied by Group Leader Sohail Altaf, office bearers, representatives of the Tax Bar Association, and local trader associations, stated that the budget lacked meaningful measures to boost exports, reduce the cost of doing business, bring down energy prices, or offer significant tax relief.
President Shaukat remarked that while early consultations were a welcome initiative this year, the proposals submitted by RCCI were either largely ignored or implemented with delays. He warned that the proposed measures would contribute to rising inflation, potentially pushing it to 7.5%.
He acknowledged that the salaried class has been provided with considerable relief; however, tough measures have been introduced to broaden the tax net. The announcement of modest reductions in corporate tax and super tax, as well as a package for the construction industry, were noted as positive developments.
Group Leader Sohail Altaf emphasized that while the proposals to expand the tax base are important, they should be implemented in a manner that is encouraging rather than overly stringent. “Harsh enforcement should be avoided; instead, attractive incentives should be introduced to bring more people into the tax net,” he said.
Responding to a media query, he strongly rejected reports claiming that the business community contributed only PKR 65 billion in taxes compared to the salaried class. “These numbers are misleading,” he said. “Out of the total PKR 14 trillion in tax revenue, a significant share has come from the business sector.”
 has termed the recently announced federal budget as traditional){kind=link}