LAHORE:

A balanced and strategy-driven federal budget is essential for Pakistan’s economic future as it can define the country’s direction and create a favourable environment for struggling businesses.

It was the key takeaway from an awareness session on the upcoming budget for 2025-26, organised by the Lahore Chamber of Commerce and Industry (LCCI).

Speaking at the session, acting LCCI President Engineer Khalid Usman said the key pillars of the budget should comprise the expansion of tax net, relief for the existing taxpayers, protection for the domestic industry, elimination of duties on imported raw material, GDP and export growth and meaningful reforms.

He stressed that tariffs must be used as a policy tool to shield domestic industries and reduce reliance on imports. He advocated zero-rated customs duty and sales tax on raw material to ensure cost-effective industrial production.