Lahore (Web Desk): SM Tanveer, Patron-in-Chief of the United Business Group (UBG) and leader of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has termed the Federal budget 2026-27 a growth-oriented roadmap, expressing optimism that its incentives will play a pivotal role in reviving the economy.
In a statement, Tanveer welcomed key fiscal measures, including the introduction of tax concessions and the abolition of the super tax on exporters, a 50% reduction in taxes on the real estate sector, the introduction of a fixed tax regime for shopkeepers, and tax relief for the salaried class.
He said that the business community had been consistently demanding tax cuts to transition the economy from stabilization to active growth.
SM Tanveer also welcomed the increase in the defense budget. He lauded the leadership of Chief of Army Staff (COAS) and Chief of Defence Forces (CDF) Field Marshal Syed Asim Munir for his role in national defense and commended the joint efforts of the Prime Minister Shehbaz Sharif and the CDF in the Islamabad peace talks.
On the tax relief aimed at reviving the real estate sector, SM Tanveer noted that he had been actively advocating for these measures over the past year.
The UBG chief emphasized that the real estate industry has the potential to trigger growth across roughly 80 allied industries, significantly boosting domestic economic activity.
"The economy can only flourish through export-led growth externally and the revival of domestic commerce internally," Mr Tanveer stated.
"The government has adopted an inclusive approach on both fronts to drive economic growth and create employment opportunities for the common man," he added.
SM Tanveer congratulated the prime minister, the finance minister, and the entire economic team for presenting a balanced, growth-oriented budget in the larger national interest.