RAWALPINDI — The Rawalpindi Chamber of Commerce and Industry (RCCI) evaluated the Federal Budget 2026-27. They described it as a combination of commendable measures and significant gaps.
Tax Relief and Export Initiatives
RCCI President Usman Shaukat praised the tax cuts for the salaried class. He also welcomed tax relief for the IT sector to boost exports and employment. Shaukat commended the Rs. 88 billion allocation to the Export Finance Scheme but recommended increasing this amount to further enhance export levels. He noted the proposed removal of duties on life-saving medicines as a crucial public benefit.
Strategies for Industrial Growth
Sohail Altaf, RCCI Group Leader, acknowledged the budgetary initiatives but highlighted the absence of a comprehensive strategy for industrial growth and business facilitation. He supported the Fixed Tax Scheme. However, he expressed concerns about its potential implementation challenges. Altaf emphasized the necessity for export-led economic policies to achieve sustainable industrial growth.
Support for Tax Schemes and Small Businesses
Altaf supported eliminating the super tax and reducing the withholding tax. Yet, he criticized the budget for not adequately supporting small businesses. He stressed that expanding the tax base by adding new taxpayers is essential to increase revenue.
Real Estate and Inflation Concerns
Former RCCI President Raja Amer Iqbal approved of the incentives for the real estate sector, including property transaction relief. Nevertheless, RCCI leaders pointed out the budget’s failure to address inflation and the ambiguities in sales tax measures effectively.
