The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lauded the recent session of the Special Investment Facilitation Council (SIFC) committee, commending its progress on reforms in the Federal Board of Revenue (FBR) and broader business facilitation measures. The meeting, chaired by Minister of State for Finance Bilal Azhar Kayani, gathered senior government officials, FBR representatives, and leaders from chambers of commerce across Karachi, Lahore, Faisalabad, Quetta, Sarhad, Rawalpindi, Multan, Sialkot, Gujranwala, Gujrat, and Haripur. Participants discussed ongoing challenges related to the ease of doing business, bureaucratic procedures, and ways to strengthen collaboration between the public and private sectors to advance Pakistan’s economic recovery.
Acting FPCCI President Saquib Fayyaz Magoon said the council’s initiatives reflected genuine progress toward simplifying tax structures and addressing long-standing procedural barriers. He noted that the ongoing engagement between policymakers and business representatives demonstrates a shift toward partnership-oriented policymaking. Magoon emphasized that the government’s consultative approach, rather than confrontational measures, is essential for achieving sustainable economic outcomes. He highlighted key areas of progress, including phased implementation of e-invoicing, clarifications on input tax adjustments under Sections 8B and 40B of the Sales Tax Act, and simpler compliance mechanisms for both sales tax and income tax. These improvements, he added, mark a transition from punitive enforcement practices toward supportive governance, helping businesses operate with greater transparency and predictability.
Magoon also urged authorities to tighten oversight of the Export Facilitation Scheme (EFS) to prevent misuse, reduce industrial electricity tariffs as previously committed, and extend the faceless tax model—already implemented in customs—to Inland Revenue operations. According to FPCCI, such measures would help minimize human interaction, limit discretionary practices, and promote digital accountability within tax administration. The meeting also reviewed the government’s reversal of restrictive clauses in the Finance Bill 2025–26, including changes to Sections 37A and 21(s), which had previously raised concern among industrial and trading sectors. The amendments were acknowledged as a positive signal for investors seeking stability and policy clarity.
Minister of State for Finance Bilal Azhar Kayani reaffirmed the government’s intent to streamline tax administration, improve compliance efficiency, and lower the cost of doing business. He reiterated that SIFC will continue to serve as a single-window platform to advance the Prime Minister’s target of achieving 100 billion dollars in exports and sustained economic growth. FPCCI Vice President Zaki Aijaz also noted that these structural reforms could help attract greater foreign direct investment in sectors such as agriculture, minerals, information technology, energy, and defense production. He stressed that maintaining reform momentum through continued consultation is vital, particularly in areas like customs digitalization, tariff rationalization, and energy cost management.
The meeting’s outcomes reflected a renewed sense of collaboration between government and industry leaders, highlighting shared objectives to strengthen Pakistan’s competitiveness, attract long-term investment, and ensure that reforms translate into tangible economic benefits for businesses and citizens alike.
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