LAHORE:Former president of the Lahore Chamber of Commerce and Industry, Muhammad Ali Mian, has welcomed the Punjab government’s Budget and Finance Bill for the fiscal year 2026-27, stating that under the leadership of Chief Minister Maryam Nawaz, the Punjab government has presented a balanced and development-oriented budget despite limited financial resources and challenging economic conditions.
In a statement issued here Sunday, he said that the budget clearly reflects a vision focused on public welfare, agricultural improvement and strengthening the business environment in the province.
Muhammad Ali Mian noted that the pace at which public service initiatives, infrastructure development, healthcare, education, sanitation, rural development, and programmes for women and youth empowerment are being implemented across Punjab reflects the dynamic leadership and strong commitment of Chief Minister Maryam Nawaz to resolving public issues.
He appreciated the abolition of the ‘Cotton Fee’ on raw cotton, stating that it was a long-standing demand of the agriculture and textile sectors. This decision, he said, would strengthen confidence among farmers and the industrial sector. He termed the six-month tax exemption for new businesses a highly encouraging step for young entrepreneurs and investors.
He stated that in the current economic environment, where documentation of the economy and expansion of the tax net are essential, the measures introduced by the Punjab government regarding business registration, invoicing systems and tax compliance are steps in the right direction. However, he emphasised that facilitation for the business community during implementation remains crucial.
He acknowledged that there are concerns within the business community regarding increase in certain taxes and fees, particularly the hike in token tax on commercial vehicles and the increase in sales tax on certain services, which may raise the cost of doing business. However, he noted that overall, the government has focused more on broadening the tax base and curbing tax evasion rather than imposing new heavy taxes.
