RAWALPINDI, MAY 20 /DNA/ – The Rawalpindi Chamber of Commerce and Industry (RCCI) has called for a rationalized tax framework, promotion of export-led growth, and significant reduction in super tax to stimulate economic activity and industrial revival. In its budget proposals, RCCI also stressed the importance of import substitution, recommending incentives for businesses that reduce import dependency by at least 15%. Furthermore, the chamber advocated for a single-digit KIBOR rate to jumpstart industrial activity and improve access to capital.
RCCI President Usman Shaukat while talking to Private TV Channel, emphasized the need for targeted incentives to bolster exports. “Exporters must be incentivized through tax relief, especially a reduction in the super tax,” he said. “Companies achieving a 15% or more increase in annual exports should be rewarded through cuts in super tax and federal excise duty, which currently stands at 1%.”
He further remarked that the RCCI has submitted its key budget proposals for the upcoming fiscal year, demanded a reduction in the withholding tax on export proceeds and called for special support to new exporters and SMEs to ensure broader participation in global markets. RCCI urged the government to reinstate exemption certificates for timely advance tax payments to improve liquidity for exporters.
RCCI welcomed the early initiation of the budget consultation process by the Ministry of Finance, noting that regular engagement with the business community and chambers of commerce marks a positive step toward inclusive economic policymaking.
Highlighting the regional disparity in energy pricing, RCCI urged the government to lower energy tariffs to make Pakistani exports more competitive. “Our energy cost is significantly higher compared to the region. This must be addressed immediately,” Shaukat said.
“Broadening the tax base must be prioritized over squeezing existing taxpayers,” the RCCI President asserted. The chamber reiterated its support for digitalization and simplification of tax procedures, particularly for salaried individuals and small businesses.
RCCI remains committed to collaborating with the government to implement policies that foster sustainable economic growth, create jobs, and enhance Pakistan’s global competitiveness.
 has called for a rationalized){kind=link}