LAHORE, Jun 07 (APP):Federal Tax Ombudsman (FTO) Coordinator Saif-ur Rehman on Sunday urged the government to reduce the General Sales Tax (GST) in the upcoming federal budget, saying that lowering indirect taxes would help reduce the cost of goods and improve the competitiveness of Pakistani products in international markets. Talking to business representatives here, he said high taxation on goods and services had increased production costs, making local industries less …
Business-friendly tax regime essential for economic growth : FTO Coordinator
LAHORE, Jun 07 (APP):Federal Tax Ombudsman (FTO) Coordinator Saif-ur Rehman on Sunday urged the government to reduce the General Sales Tax (GST) in the upcoming federal budget, saying that lowering indirect taxes would help reduce the cost of goods and improve the competitiveness of Pakistani products in international markets.
Talking to business representatives here, he said high taxation on goods and services had increased production costs, making local industries less competitive compared to their regional and global counterparts.
He said a reduction in GST would provide much-needed relief to consumers facing inflationary pressures while also supporting manufacturers struggling with rising input costs.
Rehman stressed that a business-friendly tax regime was essential for stimulating economic growth, increasing exports and attracting investment. He said lowering the tax burden would enhance consumers’ purchasing power, encourage industrial expansion and generate new employment opportunities.
He expressed the hope that policymakers would introduce pragmatic fiscal measures in the annual budget aimed at strengthening economic activity, improving export performance and ensuring sustainable growth across key sectors of the economy.
The coordinator said tax reforms focused on promoting investment and industrial development could help create a more competitive business environment and support the country’s long-term economic objectives.
