Islamabad: Prime Minister Shehbaz Sharif has assured the business community of continued government support ahead of the Federal Budget 2026-27 and announced several measures aimed at improving the business environment and supporting economic growth.
The assurances came during a pre-budget consultation meeting with representatives of chambers of commerce and industry from across Pakistan, where business leaders presented recommendations on taxation, investment, and industrial development.
Addressing the meeting, the prime minister said the government’s economic stabilization efforts were producing positive results and that the upcoming budget would include measures to encourage industrial production, exports, and investment.
To address one of the business community’s long-standing concerns, Shehbaz directed the Federal Board of Revenue (FBR) to clear all pending tax refund cases by June 15.
He also announced that the export refinance scheme rate would remain fixed at 4.5 percent until June 2027, providing greater certainty and support to export-oriented businesses.
In another key decision, the prime minister ordered the relocation of Pakistan Revenue Automation Limited (PRAL) headquarters from Islamabad to Karachi, aiming to bring tax administration closer to the country’s commercial hub and business community.
The prime minister reiterated the government’s commitment to supporting small and medium-sized enterprises (SMEs) and encouraged investors to explore opportunities in Pakistan’s emerging electric vehicle manufacturing sector.
He emphasized that export-led growth remains a key priority and stressed the importance of stronger cooperation between the public and private sectors to expand economic activity.
During the meeting, business representatives called for tax relief measures in the upcoming budget and urged the government to accelerate reforms that improve competitiveness, attract investment, and support industrial growth.
Business leaders also highlighted the importance of timely tax refunds, policy consistency, digitalization, and expanding the tax base.
Participants welcomed several government initiatives, including reforms in the Export Development Fund, ongoing FBR digitalization efforts, the introduction of e-invoicing systems, and progress on the privatization of Pakistan International Airlines (PIA).
The business community also expressed support for government housing initiatives and measures aimed at documenting and formalizing the economy.
The meeting is part of the government’s ongoing consultations with stakeholders ahead of the announcement of the Federal Budget 2026-27.
