LAHORE: SM Tanveer, patron-in-chief of the United Business Group (UBG) and a senior leader of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called Budget FY27 a growth-oriented roadmap, saying it could help support economic recovery.
In a statement on Saturday, Tanveer welcomed key fiscal measures, including tax concessions, the abolition of the super tax for exporters, a 50 per cent reduction in taxes on the real estate sector, the introduction of a fixed tax regime for shopkeepers, and relief for salaried individuals.
He said the business community had long been calling for tax reductions to shift the economy from stabilisation towards growth.
Tanveer also welcomed an increase in defence spending. He praised Chief of Army Staff General Syed Asim Munir for his role in national defence and commended the efforts of both the army chief and Prime Minister Shehbaz Sharif in facilitating the Islamabad peace talks.
On real estate incentives, he said he had been advocating such measures for the past year, adding that the sector has the potential to stimulate activity across around 80 allied industries and support broader economic expansion.
“The economy can only flourish through export-led growth externally and the revival of domestic commerce internally,” Tanveer said. “The government has adopted an inclusive approach on both fronts to drive economic growth and create employment opportunities for the common man.”
He congratulated the prime minister, finance minister and the economic team for presenting what he called a balanced, growth-oriented budget in the national interest.
