SCCI seeks special relief for war-hit KP

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) on Tuesday presented its budget proposals for the fiscal year 2025-26, seeking special fiscal relief package and tax cessions for next five years for war-hit Khyber Pakhtunkhwa.

In the budget proposals, the SCCI urged the government to rationalise taxes by making reduction in their ratio at optimal level, broadening tax-base and refraining from imposition of new taxes.

The SCCI also sought reduction in duties on import of raw material/items and pragmatic steps for simplifying the existing taxation system. It emphasised that the government should announce a special budget for the development of small and medium industry.

The budget proposals said soft loans should be provided to SMEs, especially startup businesses, women entrepreneurs so that they would also equally contribute to the economic growth and development of the country.

The chamber demanded that a special fiscal relief package and tax cessions for next five years should be announced for war-torn Khyber Pakhtunkhwa.“Budget is a true reflection of the government policies, which should be made people as well as business-friendly,” said Fazal Moqeem Khan, president of SCCI.

He said that the budget coming at the time of economic take-off will set the roadmap for the future and added that there is a need to build a sustainable basis for reducing electricity prices.