RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) has expressed strong optimism that the upcoming federal budget for fiscal year 2025-26 will deliver wide-ranging relief for the business sector.
In a joint statement, RCCI President Usman Shaukat and Group Leader Sohail Altaf emphasized that the business community holds high expectations from the budget, sayingt hat the government to introduce measures that promote growth, reduce cost of doing business, and braden the tax base without increasing the burden on existing taxpayers.
The RCCI welcomed reports of proposed tax relief for the salaried class but stressed that such concessions should be extended across the board. “Relief should not be limited to one segment of society — it must be equitable and inclusive,” the statement said.
Focusing on the automobile sector, the RCCI pointed out that while tax exemptions for imported vehicles are being considered, equal protection and incentives must be extended to the local auto industry, which is linked with various domestic vendor industries.
The RCCI leadership proposed that the tax relief on locally manufactured vehicles to boost production and employment, besudes reduction in taxes and customs duties on auto parts and raw materials. “Enhanced car financing limits by banks to support affordability and stimulate demand”, they said.
To support new taxpayers, the RCCI called for a three-year exemption from tax audits, besides it urged a reduction in utility costs, especially electricity and gas, to help lower operational expenses and revive closed industrial units while encouraging new investment.
The RCCI voiced concerns over the Income Tax Ordinance 2025 and recommended that withholding agents be treated as partners, with a 10% tax credit offered on collections to ensure cooperation and efficiency.
The RCCI leadership reiterated their demand that key recommendations from the All Pakistan Chambers Presidents’ Conference be incorporated into the budget. These include:
They also demanded incentives for voluntary inclusion into the tax net instead of coercive actions. Encouraging digitization, particularly through incentivized installation of POS (Point-of-Sale) systems, the RCCI leaders urged.
Referring to a recent meeting with Prime Minister Shehbaz Sharif, RCCI leaders stated that the Prime Minister assured business stakeholders that FBR officers will not be deployed at business premises, clarifying that such measures were limited to the tobacco sector.
The Premiker also emphasized policy continuity and discouraged frequent issuance of SROs, adding that no additional burden would be placed on existing taxpayers.
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