Business Recorder
LAHORE: Lahore Chamber of Commerce and Industry (LCCI) President Faheem-ur-Rehman Saigol has said that the government is working on policy reforms to promote private sector-led economic growth, export expansion, and improvement in the business environment. He made these remarks during an interactive session held under the Special Investment Facilitation Council (SIFC), chaired by Minister of State for Finance and Railways Bilal Azhar Kayani in Islamabad. According to the LCCI, the meeting was attended by LCCI President Saigol, along with presidents and representatives of chambers from Karachi, Lahore, Faisalabad, Quetta, Khyber Pakhtunkhwa, Rawalpindi, Gujranwala, Gujrat, and Sialkot. Officials from SIFC, FBR, Ministry of Commerce, and Ministry of Industries and Production were also present. The LCCI President said the meeting discussed key issues affecting business and industrial growth in Pakistan, policy challenges, investment climate, and ease of doing business reforms. The LCCI President highlighted the need to reduce the major tax gap between manufacturers and commercial importers at the import stage in terms of sales tax and withholding tax. He said commercial importers play an important role in the supply chain of SMEs and small traders. The higher tax burden is increasing business costs and affecting SMEs’ cash flow and competitiveness. The LCCI President also called for the restoration of the Final Tax Regime (FTR) for exporters, saying it would help increase exports and improve Pakistan’s competitiveness in global markets. He also raised concern over penalties under SRO1387(I)/2025 for late filing of goods declarations, saying the current penalty of 0.25 percent per day is too high. He added that delays often occur due to banking issues, documentation problems, port congestion, shipping procedures, and system-related issues that are beyond the control of importers. Saigol said the Minister of State Bilal Azhar Kayani acknowledged the concerns of the business community and directed relevant ministries and departments to ensure quick and effective solutions through a coordinated approach. He assured that the government will continue regular and meaningful engagement with the business community to achieve sustainable and export-led economic growth. Copyright Business Recorder, 2026
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