LAHORE: The Pak International Business Forum (PIBF) has proposed a seven-point economic revival agenda for the upcoming federal budget, calling for business-friendly reforms to restore industrial growth, boost exports, curb inflation and improve the investment climate.
PIBF President Dr Mushtaq Mangat said Pakistan needs stable, long-term growth-oriented policies instead of short-term fiscal measures. He noted that businesses are under pressure due to high interest rates, costly energy, complex taxation and rising fuel prices.
The PIBF leadership, including Secretary General Muhammad Ejaz Tanveer and Chief Organiser Muaz Qazi, stressed the need for urgent structural reforms to restore investor confidence and economic activity.
Key proposals include rationalising interest rates, reviving Development Finance Institutions (DFIs) and expanding targeted financing for export-oriented sectors. The forum also urged tax reforms to broaden the tax base, reduce rates, simplify compliance and introduce a digital single-window tax system.
On energy, PIBF called for regionally competitive tariffs for industry, particularly exporters, along with reforms to reduce losses and improve distribution governance. It also highlighted the inflationary impact of rising fuel prices and proposed a fuel price stabilisation mechanism and rationalisation of petroleum levies.
For improving the business environment, the forum recommended a fully digital one-window system for approvals and compliance, policy consistency and fast-track commercial dispute resolution.
On skills development, Muhammad Ejaz Tanveer stressed aligning education with industry needs, expanding vocational training and promoting digital skills, particularly in IT and freelancing.
PIBF also proposed a district economy model to promote regionally balanced growth by developing local industries based on district-level strengths, reducing urban migration and creating local employment.Dr Mangat urged the government to incorporate these recommendations into the upcoming budget to support sustainable growth and industrial revival.
