Ex-LCCI President Appreciates Federal Govt for Balanced Budget

Islamabad: Former President Lahore Chamber of Commerce and Industry (LCCI) Muhammad Ali Mian has appreciated the Federal Government for presenting a balanced budget for the fiscal year 2026-27. In an exclusive interview with Radio Pakistan correspondent Qasim Bukhari, Muhammad Ali Mian said that the budget for the fiscal year 2026-27 provides relief to several key sectors and is expected to stimulate business activity and accelerate economic growth.

According to Radio Pakistan, Muhammad Ali Mian highlighted the government’s significant measures for the real estate and construction sectors. He welcomed the reduction in the withholding tax on property purchases for filers from 2.5 percent to 1.5 percent and the reduction in the tax on property sales from 5.5 percent to 2.75 percent. He noted that the construction industry has direct and indirect linkages with around 40 other industries; therefore, growth in this sector would also boost allied industries and create employment opportunities.

Commending the government’s ease-of-doing-business initiatives, he emphasized the need for further reductions in the cost of doing business. He stated that such measures are essential for translating the government’s vision of an export-led economy into reality and for achieving a substantial increase in the country’s exports.