A high-level delegation comprising representatives from the Sialkot Chamber of Commerce and Industry, Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), and the Pakistan Hosiery Manufacturers Association (PHMA) met with Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production, in Islamabad today. During the meeting, the participants discussed crucial matters including the Fixed Tax Regime versus the Normal Tax Regime, industrial policy, and measures to improve the ease of doing business in Pakistan. The Sialkot Chamber emphasized that for decades, the Fixed Tax Regime has provided exporters with a simple, transparent, and corruption-free taxation system. However, they expressed concern that the imposition of the Normal Tax Regime under the Finance Act 2024 has become a significant burden on the business community. The Chamber strongly urged the government to reinstate the Final Tax Regime for exporters to ensure continuity and growth in the export sector. Addressing the concerns, SAPM Haroon Akhtar Khan assured the delegation that the government is fully aware of the challenges faced by the business community. “We are committed to taking all possible measures to resolve these issues,” he stated. Mr. Khan further added that Prime Minister Shehbaz Sharif has given clear directives to address the concerns of the business community on a priority basis. He informed the delegation that a proposal will be made to include a comprehensive and standardized definition of Small and Medium Enterprises (SMEs) in the new Industrial Policy. "A stable and predictable policy framework is essential for attracting investment and ensuring sustainable industrial growth in Pakistan," Mr. Khan emphasized. He added that the government is introducing a forward-looking industrial policy aimed at revitalizing industry and providing real support to manufacturers. “All major issues faced by the business community will be addressed through the upcoming Industrial Policy,” he concluded. In view of Pakistan’s current economic landscape, Mr. Khan underlined the urgent need for long-term and consistent policy frameworks to ensure national economic resilience.
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