A delegation of the Islamabad Industrial Association (IIA) led by its President Muhammad Ahmed on Friday called on Federal Minister for Finance and Revenue, Ishaq Dar and presented their budget proposals to him. The industrialists of capital demanded putting the steel sector again on the fixed tax regime, reducing the additional customs duty on ghee and oil sectors from 2 percent to 0 percent to reduce prices by Rs7 per kg, declaring rice as an industry, exempting students working in the IT sector from the tax net, level playing field for the solar sector, and providing tax amnesty for the construction sector.

The IIA President, Muhammad Ahmed lauded the improvement in the exchange rate, reduction in the price of petroleum products and hoped that it would provide relief to the masses and the business community. VP Usman Shaukat, Sheikh Tariq Sadiq, Mian Akram Farid, Zakria Akbar Zia, Mian Shaukar Masood, Sheikh Aamir Waheed, Atif Ikram Sheikh, Malik Sohail Hussain, Umais Khattak, Nasir Qureshi and other prominent industrialists from the Federal Capital were also part of the delegation.

The minister was accompanied by the Special Assistants to the Prime Minister Ishfaq Tola and Tariq Bajwa and Chairman FBR Asim Ahmed Muhammad Ahmed said the industrial sector should be bailed out and urged the finance minister to consider proposals for inclusion in the upcoming budget. Other members of the IIA also gave suggestions from their respective industries and highlighted prevailing challenges hampering industrial development.

Finance Minister Ishaq Dar attentively listened to the proposals, appreciated their proactive approach and efforts to engage with the government in shaping economic policies. He took note of the concerns raised by the industrialists and assured them of the government's commitment to addressing the challenges confronting the business-friendly environment. The finance minister thanked the delegation for their valuable input and assured them that their concerns and suggestions would be given due consideration. Malik Sohail hoped that the proposals by the IIA would play a significant role in shaping economic policies and ensuring growth and prosperity. 

Credit: Independent News Pakistan-INP