LAHORE (special crosspondent) – Acting President of the Lahore Chamber of Commerce & Industry (LCCI) Tanveer Ahmed Sheikh has formally welcomed recent indications from the Federal Board of Revenue (FBR) regarding the potential total withdrawal of Super Tax and a reduction in sales tax rates. Sheikh described these proposed measures as a vital step toward lowering the operational cost of doing business and stimulating economic vitality across Pakistan.

Advocating for Tax Rationalization

The LCCI Acting President noted that the local business community has long campaigned for the rationalization of the tax burden placed upon compliant taxpayers. He argued that the current Super Tax structure imposes an unsustainable financial strain on enterprises, directly hindering their capacity for capital reinvestment, operational expansion, and the creation of new employment opportunities. As the government explores business-friendly solutions, the LCCI remains vocal in its push for systemic change.

Boosting Industrial Competitiveness

Tanveer Ahmed Sheikh emphasized that at a critical juncture where businesses are grappling with inflated input costs, surging energy prices, and rising operational overheads, any reduction in tax liabilities would significantly enhance the competitiveness of Pakistani industries. He further advocated for a reduction in sales tax, stating that a more rational rate would alleviate burdens on both businesses and consumers, promote greater documentation, and facilitate the expansion of the formal economy.

Broadening the Tax Base

Addressing the government’s fiscal strategy, the LCCI leader stressed that authorities should prioritize broadening the tax net rather than compounding the burden on those already registered. By bringing new sectors and historically untaxed businesses into the formal system, the government can achieve higher revenue collection while establishing a more balanced and equitable taxation framework. Sheikh reiterated that such structural reforms are essential for fostering a stable, predictable economic environment, echoing similar calls for modernization as seen in recent discussions regarding national employment policies and broader economic stability. He remains hopeful that these positive signals from the FBR will soon manifest into concrete fiscal policies, thereby setting the country on a sustainable path toward industrial growth and attracting both domestic and foreign investment.