ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Nasir Mansoor Qureshi has called on the government to enact urgent, transformative measures to eliminate persistent obstacles hindering business growth. He warned that without such action, more businesses and industries may be forced to close, leading to rising unemployment and economic strain.
In a statement released Friday, Qureshi highlighted the mounting frustrations within the business community due to an increasingly restrictive regulatory environment. He pointed to a reluctance among certain government departments to adapt to pro-business policies, and to their continued reliance on outdated and counterproductive practices. He specifically criticized the recent tax hike imposed by the Capital Development Authority (CDA) on commercial operators, which he described as unjustified and damaging to economic stability.
Qureshi also lent support to recent comments by Dr. Gohar Ejaz, former Caretaker Federal Minister for Commerce, who urged the government to address the growing tax shortfall—exceeding Rs. 180 billion in the fiscal year’s first four months—by taxing sectors enjoying “abnormal profits” instead of overburdening an already struggling population. Ejaz argued that the government’s current taxation approach unfairly targets consumers and small businesses, further straining a population grappling with record inflation.
Qureshi reiterated that with inflation surging nearly 60% in the past two and a half years, Pakistan’s citizens are already facing substantial financial hardship. He emphasized the urgent need to broaden the tax base by targeting those not yet in the tax net, rather than imposing additional burdens on compliant taxpayers.
He concluded by underscoring the importance of collaboration, trust, and efficiency in moving the country toward sustainable progress and prosperity.
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