President Rawalpindi Chamber of Commerce and Industry (RCCI) discusses budget proposals, business reforms with Tax Policy Office

President Rawalpindi Chamber of Commerce and Industry (RCCI) Usman Shaukat on Tuesday held a meeting with Director General Tax Policy Office Dr Najeeb Memon in Islamabad to discuss budget proposals and challenges faced by the business community

RAWALPINDI, (APP - UrduPoint / Pakistan Point News - 5th May, 2026) President Rawalpindi Chamber of Commerce and Industry (RCCI) Usman Shaukat on Tuesday held a meeting with Director General Tax Policy Office Dr Najeeb Memon in Islamabad to discuss budget proposals and challenges faced by the business community.

The RCCI delegation included Sardar Saqib Naseem, Bilal Javaid and Zahid Hussain, representing various trade and industry bodies.

Usman Shaukat appreciated the engagement of the Tax Policy Office and stressed the need to incorporate stakeholders’ input in the upcoming federal budget. He said sustained consultation with the private sector was essential for formulating practical and growth-oriented economic policies. He highlighted key issues including ease of doing business, simplification of tax return procedures and rationalization of tax rates to improve compliance and broaden the tax base.

The meeting also discussed sector-specific challenges, particularly in pharmaceuticals and health services, with participants calling for targeted reforms to enhance domestic production and unlock export potential.

The RCCI presented recommendations including tax rationalization and removal of the “further tax,” an additional 4 per cent levy over the standard 18 per cent sales tax, stating that such measures discouraged documentation and encouraged informal practices.

The delegation acknowledged the Federal board of Revenue’s initiatives on digitalization and automation, including AI-based production monitoring systems, while emphasizing the need for phased implementation and capacity building for businesses.

On exports, the participants proposed measures to enhance pharmaceutical exports to USD 3.0 to USD 5.0 billion by targeting emerging markets through regulatory facilitation and incentives.

They also highlighted the potential of Pakistan’s furniture industry, estimated at USD 3.0 billion, and discussed challenges such as reliance on imported wood, outdated machinery and limited global branding.

Dr Najeeb Memon appreciated the RCCI’s input and assured that the recommendations would be considered in the budget formulation process, reaffirming the government’s commitment to a business-friendly economic environment.