LAHORE: Pakistan’s business community has extended its heartfelt appreciation to Chief of Army Staff (COAS) General Syed Asim Munir for his instrumental role in addressing long-standing tax-related issues, marking a significant step toward improving the country’s business climate.
During a press conference at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), prominent business leaders, including FPCCI Vice President Zain Iftikhar Chaudhry and Lahore Chamber President Mian Abu Zar Shad, commended General Munir for his vision of transforming Pakistan into an “Asian Tiger.” They emphasized that his intervention has restored optimism in the private sector, particularly after the contentious Section 37A—which previously empowered junior officers to arrest businessmen—was amended.
While celebrating this milestone, the business community raised urgent concerns about soaring electricity tariffs, high interest rates, and retrospective gas charges imposed by SNGPL. They warned that without immediate reductions in power costs (to 9 cents per unit) and interest rates (to single digits), Pakistan risks losing export orders to regional competitors.
The leaders also highlighted unresolved issues with Independent Power Producers (IPPs), stressing that promised relief has yet to materialize. They urged authorities to eliminate policy uncertainties and ensure a business-friendly environment to attract investment and stimulate economic growth.
As Pakistan navigates these challenges, the business community remains hopeful but insists that concrete reforms are essential to sustain progress and global competitiveness.
