ISLAMABAD
\nThe Islamabad Chamber of Commerce and Industry (ICCI) has lauded the federal government\u2019s decision to enhance the defense budget, terming it a timely move in response to growing regional threats, particularly in the aftermath of the Operation \u2018Banyan Marsoos\u2019. In a comprehensive response to the Federal Budget 2025-26, ICCI President Nasir Mansoor Qureshi, Senior Vice President Abdul Rehman Siddiqui, and Vice President Nasir Mehmood Chaudhry welcomed the government\u2019s initiative to streamline governance by proposing the merger or abolition of 45 government entities. They emphasized the pressing need to privatize all loss-making public sector enterprises to reduce fiscal burden and enhance efficiency. The ICCI leadership appreciated tax relief measures for the salaried class and the introduction of a simplified income tax return form for SMEs and individual taxpayers, calling it a step in the right direction. However, President Nasir Mansoor Qureshi expressed disappointment over the government\u2019s continued neglect of the business community\u2019s repeated calls for broadening the tax net and implementing deep structural reforms\u2014both essential for sustainable economic growth. He voiced strong reservations regarding the \u201cunrealistic targets\u201d set in the new budget, particularly in light of the government\u2019s failure to meet key economic indicators in the previous fiscal year, including GDP growth and fiscal consolidation. He questioned the feasibility of achieving new targets amid high inflation, economic fragility, and IMF-imposed restrictions. Highlighting the high cost of doing business, Qureshi criticized the absence of tangible measures to reduce electricity tariffs and interest rates. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Islamabad Chamber of Commerce and Industry (ICCI) has lauded the federal government\u2019s decision to enhance the defense budget, terming it a timely move in response to growing regional threats, particularly in the aftermath of the Operation \u2018Banyan Marsoos\u2019. In a comprehensive response to the Federal Budget 2025-26, ICCI President Nasir Mansoor Qureshi, Senior […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-483683","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n