Business Leaders Cheer Finance Act Reforms

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The Lahore Chamber of Commerce and Industry (LCCI) has expressed strong support for recent pro-business amendments to Pakistan’s Finance Act 2025, praising the government’s efforts to improve the country’s economic climate. Speaking on behalf of the chamber, President Mian Abuzar Shad commended Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, Federal Board of Revenue (FBR) Chairman Rashid Langrial, and Chief of Army Staff General Asim Munir for introducing reforms aimed at strengthening the Special Investment Facilitation Council (SIFC) and encouraging business growth. The amendments, Shad noted, reflect a clear intention to remove bureaucratic barriers and create a more investment-friendly environment, which he believes will stimulate economic activity and promote long-term stability.

One of the most significant developments welcomed by LCCI is the FBR’s issuance of Sales Tax General Order No. 02 of 2025, which sets guidelines for certain goods and businesses to be removed from the active taxpayer list when found non-compliant. Shad highlighted that these changes, coupled with amendments to Section 37A of the Sales Tax Act 1990, demonstrate the government’s recognition of the challenges faced by businesses and its commitment to reducing administrative pressures. He stressed that such measures could help restore investor confidence, both domestically and internationally, while aligning Pakistan’s tax policies with modern economic realities.

The LCCI president also acknowledged the role of the Special Investment Facilitation Council in streamlining procedures for both local and foreign investors. He argued that the strengthened SIFC framework will not only attract new capital inflows but also assist in protecting existing investments, particularly in key sectors such as manufacturing, infrastructure, and exports. By making Pakistan a more attractive investment destination, Shad believes these reforms can boost the country’s competitiveness in the global marketplace. He further noted that cooperation between the government, private sector, and military leadership is essential in delivering tangible economic progress.

Looking ahead, the LCCI urged continued engagement between policymakers and the business community to ensure that the momentum generated by these reforms is maintained. While the Finance Act 2025 and related measures mark an important step forward, Shad stressed the need for ongoing evaluation to ensure policies remain responsive to evolving economic conditions. With the right mix of fiscal discipline, regulatory improvements, and investor-friendly incentives, business leaders are optimistic that Pakistan can achieve sustainable growth and reduce its reliance on external financial support. The LCCI’s endorsement of the Finance Act reflects growing confidence in the government’s direction, offering a rare moment of unity between public authorities and private enterprise in pursuit of shared economic goals.