KARACHI: Mian Zahid Hussain, Chairman of the Budget Advisory Council of FPCCI and President of the Pakistan Businessmen and Intellectuals Forum, has expressed approval of the federal government's initiative to engage the business community in shaping the upcoming Federal Budget 2026-27. The move, highlighted by the recent visit of State Minister for Finance and Revenue, Bilal Azhar Kayani, to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), is seen as essential for achieving sustainable economic stability in Pakistan.
According to Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain emphasized the significance of the minister's discussions with industrial leaders at FPCCI. He noted that the minister highlighted Pakistan's macroeconomic stabilization, supported by factors like reduced inflation and successful IMF program reviews. The enhanced foreign reserves have bolstered investor confidence, both locally and internationally, and the government is focused on broadening the tax base and improving the investment climate.
The business leader underscored the importance of nine specialized working groups established by the Prime Minister, aimed at fostering industrial competitiveness and an export-led growth model. Mian Zahid Hussain pointed out the need to transition from import-led consumption to a productivity-driven economy, while appreciating the government's efforts to address global energy price hikes through targeted subsidies.
Mian Zahid Hussain also recognized the minister's receptiveness to 84 proposals from the business community concerning tax policy and business facilitation. He expressed optimism that these suggestions will be incorporated into the budget to enhance the competitiveness of Pakistani products. The recent "Exporters' Recognition Awards" were mentioned as evidence of the government's focus on the export sector.
In conclusion, Mian Zahid Hussain called for continued government consultation with the business community to address structural challenges, especially in Karachi. He reaffirmed the business community's commitment to collaborating with the government to ensure a growth-oriented and inclusive federal budget that serves all stakeholders.