ICCI President Advocates for Budget Reforms

The business community is advocating for significant reforms and improved facilities in the upcoming budget for 2024-25 to drive industry growth by broadening the tax base. Ahsan Zafar Bakhtawri, the President of the Islamabad Chamber of Commerce and Industry (ICCI), has revealed that following consultations with business representatives, their budget recommendations have been submitted to the relevant ministry. Bakhtawri has emphasized the importance of incorporating these suggestions into the Federal Budget 2024-25, underscoring that their implementation would address critical trade and industry obstacles, promote business expansion, enhance government tax revenue, and contribute to economic recovery.

The recommendations put forth by the business community aim to create a more conducive environment for businesses to thrive, ultimately leading to job creation and economic prosperity. By expanding the tax base, the proposed reforms seek to ensure a fair and sustainable revenue generation system that supports both businesses and the government in achieving their respective goals.

Furthermore, the integration of these recommendations into the upcoming budget is crucial for fostering a business-friendly climate that encourages investment and innovation. With the potential to alleviate key challenges faced by the trade and industry sectors, the proposed reforms have the capacity to drive sustainable growth and pave the way for a more robust economy.