Army chief reforms spark private sector optimism, Tax changes welcomed, but power tariff is a concern: UBG-VC
\nMIRPUR
\nLeading business figures have praised recent amendments to tax laws while calling for deeper structural reforms to reduce operational costs that continue hampering industrial competitiveness.
\nUnited Business Group North Zone Vice Chairman Ch. Javeed Iqbal welcomed the removal of provisions that previously empowered lower-grade tax officials to arrest businessmen without adequate oversight, which was essential for rebuilding trust between entrepreneurs and regulatory authorities.
\nThe business leader credited Field Marshal Syed Asim Munir\u2019s leadership approach for addressing systemic challenges that have long plagued Pakistan\u2019s commercial environment. Munir\u2019s strategy of balancing national security imperatives with economic development priorities has generated renewed confidence among investors and stakeholders.
\nThe military\u2019s commitment to both defending Pakistan\u2019s sovereignty and supporting economic reforms has restored national pride and business confidence, Ch. Javeed Iqbal told the business community during his address.
\nDespite acknowledging these positive developments, he emphasized that significant cost barriers persist, particularly within the energy sector. Pakistan maintains a substantial competitive advantage through its 50 percent tariff structure on Indian imports, which should boost exports. Still, current electricity pricing and elevated interest rates threaten to negate this potential advantage.
\nHe urged authorities to implement aggressive tariff reductions, targeting nine cents per unit for industries while pushing interest rates into single-digit territory to maintain international competitiveness.
\nCh. Javeed Iqbal criticized SNGPL\u2019s recent decision to impose retroactive gas levies covering the previous five years.
\nHe said that the business community remains committed to fulfilling tax obligations but insists that regulatory reforms must shield entrepreneurs from arbitrary enforcement practices and intimidation tactics.
\nHe also recognized SM Tanveer\u2019s sustained advocacy efforts in addressing business community concerns and bridging communication gaps with the authorities.
\nWithout swift action on electricity tariffs and interest rate reduction, Pakistan risks losing valuable export contracts to more competitive economies, potentially triggering severe consequences for employment levels and overall economic health.
\nHe noted that Field Marshal Asim Munir\u2019s dual emphasis on defence capabilities and economic progress offers genuine hope for achieving greater prosperity and security.<\/p>\n","protected":false},"excerpt":{"rendered":"
Army chief reforms spark private sector optimism, Tax changes welcomed, but power tariff is a concern: UBG-VC MIRPUR Leading business figures have praised recent amendments to tax laws while calling for deeper structural reforms to reduce operational costs that continue hampering industrial competitiveness. United Business Group North Zone Vice Chairman Ch. Javeed Iqbal welcomed the …<\/p>\n","protected":false},"author":4,"featured_media":85210,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-85209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/85209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=85209"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/85209\/revisions"}],"predecessor-version":[{"id":85211,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/85209\/revisions\/85211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/85210"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=85209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=85209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=85209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}