Business Leaders Urge Extension of Tax Return Deadline Amid Economic Challenges

Lahore: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Lahore Chamber of Commerce and Industry (LCCI) have called on the government to extend the tax return filing deadline by at least one month. The business leaders argue that this extension is necessary to alleviate pressure on the business community and ensure continuity of commercial activities during challenging economic times.

During a meeting at the Lahore Chamber, LCCI President Faheem ur Rehman Saigol emphasized the importance of facilitating traders to foster business activity. He highlighted the critical role of the business community in national development and underscored the need for government responsiveness to their challenges.

FPCCI Senior Vice President, Saqib Fayyaz Magoon, addressed the meeting, acknowledging the rising costs of doing business and escalating energy tariffs as major hurdles to export growth. He urged the government to reconsider Free Trade Agreements to enhance Pakistan’s competitiveness in global markets and stressed the need for business-friendly reforms to boost investor confidence.

Both business leaders emphasized the importance of including private sector representatives in policymaking to ensure that economic policies reflect on-the-ground realities. They expressed their commitment to strengthening coordination between FPCCI and LCCI for better economic outcomes and voiced their support for the government’s efforts to address the challenges faced by traders.

The meeting was attended by various business representatives and executives, including LCCI Senior Vice President Tanveer Ahmed Sheikh and Chairman of the Pakistan Artificial Leather Importers and Merchants Association Tariq Latif. The leaders unanimously agreed on the necessity of collaborative efforts to advance Pakistan’s industrial and commercial progress.