Former FPCCI Vice President and former Chairman of the Pakistan Ship Agents Association, Tariq Haleem, has urged the government to avoid policy decisions that could slow economic activity in the upcoming Federal Budget 2026-27.
Mian Zahid Hussain Warns Against Tax-Heavy Budget, Calls for Growth-Led Economic Strategy
He warned that the budget, being prepared under IMF conditions, could create additional challenges for businesses, industries and consumers if growth-oriented measures are not prioritised.
According to Haleem, policymakers should focus on strengthening economic confidence and encouraging investment rather than imposing further burdens on the productive sectors of the economy.
Concerns Over Tax Collection Strategy
Haleem said the continued shortfall in revenue collection targets highlights the need to reassess the Federal Board of Revenue’s (FBR) taxation approach.
He argued that increasing taxes on existing taxpayers is not a sustainable solution.
Instead, he called for expanding the tax base to bring more individuals and sectors into the formal economy.
Such measures, he said, would improve revenue collection without placing excessive pressure on compliant taxpayers.
GST Reduction Recommended
The former business leader also advocated a gradual reduction in the General Sales Tax (GST).
He suggested that the tax rate should eventually be brought down to a single-digit level.
According to Haleem, lower indirect taxes would support business growth, encourage consumer spending and improve overall economic activity.
Furthermore, he said a competitive tax environment could help attract investment and strengthen market confidence.
Maritime Sector Seeks Budgetary Relief
Haleem stressed the importance of providing special incentives for ship agents and the maritime trade sector in the upcoming budget.
He said the shipping and port industries play a vital role in facilitating Pakistan’s international trade and export activities.
As a result, targeted support for the sector could improve port operations, enhance logistics efficiency and boost economic competitiveness.
He urged the government to introduce measures that encourage investment in maritime services and strengthen the country’s trade infrastructure.
Need for Economic Self-Reliance
The former Pakistan Ship Agents Association chairman also called for reducing Pakistan’s reliance on external borrowing.
He said the country should adopt practical policies aimed at achieving greater economic self-reliance.
According to Haleem, strengthening domestic industries and expanding exports are essential for long-term economic stability.
Growth and Employment Must Be Priorities
Haleem expressed concern over the slowdown in economic growth and business activity.
He warned that weak economic performance could limit job creation and investment opportunities.
Therefore, he urged the government to support productive sectors capable of generating employment and increasing national output.
He said policies that encourage manufacturing, trade and investment would help create a stronger and more resilient economy.
Call for Balanced Economic Policies
In conclusion, Tariq Haleem stressed that the Federal Budget 2026-27 should balance fiscal objectives with economic growth requirements.
He argued that broadening the tax base, lowering the tax burden on businesses and supporting key sectors such as maritime trade would strengthen economic activity and improve Pakistan’s long-term prospects.
He added that sustainable growth can only be achieved through policies that encourage investment, exports and job creation rather than relying solely on higher taxation.
