Sialkot: In an unprecedented show of solidarity, major Pakistani Chambers of Commerce and Trade Associations united at a press conference hosted by the Sialkot Chamber of Commerce and Industry to express strong opposition to the Federal Budget 2025-26. The budget, described as detrimental to exports and industry, was criticized for failing to address the pressing concerns of the business community.

President Ikram ul Haq of the Sialkot Chamber voiced his disappointment over the government's neglect of proposals from the Chambers and Trade Bodies, despite extensive consultations. He criticized the elimination of key economic measures, such as the Final Tax Regime and the Export Facilitation Scheme, along with the imposition of a 5% withholding sales tax on purchases from unregistered suppliers.

Leaders from various chambers echoed these sentiments. Mian Abuzar Shad of the Lahore Chamber denounced the government's reliance on IMF programs and criticized new tax legislations. He warned of escalating debt and poverty, suggesting that the Lahore Chamber might hand over factory keys if no changes are made.

Karachi Chamber’s President, M. Jawed Bilwani, condemned the empowerment of the Federal Board of Revenue to arrest business leaders, calling it a deterrent to investment. Faisalabad Chamber’s Rehan Naseem Bharara highlighted the negative impact of the tax on imported raw materials, crucial for export sectors.

Rawalpindi Chamber President Usman Shaukat expressed frustration over unfulfilled government promises, while Sahiwal Chamber’s Sheikh Azmat Saleem proposed a "No Export Week" as a protest. Other leaders raised concerns over tax policies and the lack of industrial development initiatives.

The Chambers collectively presented a Charter of Demands, urging for the restoration of key economic policies and measures, and warning of a nationwide "No Export Week" starting June 20, 2025, should their demands remain unmet.

President Ikram ul Haq concluded with a call for immediate government intervention, asserting that the business community's demands seek just recognition for their critical role in sustaining the economy.