Karachi Chamber of Commerce and Industry (KCCI), expressing a mixed reaction on federal budget 2026-27, on Friday appreciated automation and digitization of tax administration, changes in tax rates for salaried class and Super Tax and relief provided to the construction and real estate sectors.
KCCI hails automation of FBR, relief to construction sector and salaried class
KARACHI, Jun 12 (APP): Karachi Chamber of Commerce and Industry (KCCI), expressing a mixed reaction on federal budget 2026-27, on Friday appreciated automation and digitization of tax administration, changes in tax rates for salaried class and Super Tax and relief provided to the construction and real estate sectors.
The views were expressed by Chairman Businessmen Group (BMG) Zubair Motiwala, who was addressing a press conference after the Finance Minister’s budget speech along with Vice Chairmen BMG Jawed Bilwani and Mian Abrar, Acting President KCCI Muhammad Raza, VP Muhammad Arif Lakhani, former presidents Junaid Esmail Makda and Muhammad Idrees and others.
Zubair Motiwala, appreciated several measures announced in the budget, particularly the reduction in income tax rates for the salaried class, increase in minimum wages, the relief provided to the construction and real estate sectors and continuation of concessions for electric vehicle kits.
He also appreciated the government’s emphasis on automation and digitization of tax administration, saying that progress towards a faceless taxation mechanism is a welcome sign as well as the need of the hour.
Chairman BMG welcomed the reduction in Super Tax rates and the complete abolition of Super Tax for companies earning profits up to Rs 500 million, describing it as a positive development and a step in the right direction.
He said that KCCI had extended a comprehensive set of proposals for the budget and some of them were fulfilled including the establishment of a PRAL office in Karachi to facilitate the taxpayers of the metropolis and reduction in Customs tariff lines.
He expressed his gratitude to Prime Minister Muhammad Shahbaz Sharif for incorporating KCCI proposals in the budget for financial year 2026-27.
The Economic Survey 2025-26 indicated availability of fiscal space and the same should have been utilized to benefit the citizens and to provide meaningful support to exports and industry, he stressed and called for a comprehensive strategy to support export growth, industrial revival and economic expansion for achieving sustainable economic stability and self-reliance.
He also underscored the need of rationalizing energy tariffs to lower the cost of doing business and improve competitiveness of local industry in the global market as the country’s economic future depended entirely on export-led growth.
