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RAWALPINDI, Jul 10 (APP):The Rawalpindi Chamber of Commerce and Industry (RCCI) has demanded immediate intervention from Prime Minister Shahbaz Sharif and Deputy Prime Minister Ishaq Dar to rectify controversial provisions in the Federal Budget 2025-26.
During a post-budget session held Thursday, RCCI officials, economic experts, and business leaders warned of potential nationwide strikes if the government doesn’t come to address the budget’s shortcomings.
Acting RCCI President Khalid Farooq Qazi described the situation as critical.
“This is an SOS call to the Prime Minister and Deputy Prime Minister. The budget, in its current form, is anti-investment and threatens the survival of local industries”, he said and urged for immediate consultations with the business community to address these issues.
The session which was attended by Former RCCI President Raja Amer Iqbal, Group Leader Sohail Altaf, Vice President Fahad Barlas, FPCCI Vice President Tariq Jadoon, and trader association representatives, highlighted a range of clauses in the Finance Act which they observed were not conducive for business and investment.
Experts, including Dr. Muhammad Ahmad Zubair, Shehzad Malik, Faraz Fazal, and Syed Tanseer Bukhari, presented detailed discrepancies of Sales Tax, Income Tax, Federal Excise Duty, and digital payment laws.
Key objections raised during the session included Sections 37-A, 37-B, and 21(S) of the Finance Act, which grant the Federal Board of Revenue (FBR) unchecked powers to arrest, detain, and investigate without judicial approval, raising fears of constitutional violations and corruption.
The RCCI also criticized digital invoicing and e-bilty systems, citing Pakistan’s lack of infrastructure and training for such measures.
The session presented the demands including withdrawing taxes on solar energy products to support green energy and opposing the proposed opening of vehicle imports, which could destabilize the Pakistani Rupee and harm local manufacturers.
The RCCI called for constructive dialogue with the government to revise the budget and align it with Pakistan’s economic realities, warning that failure to act could escalate tensions within the business community.