Islamabad: After the FBR field formations on the budget for the fiscal year 2026-27, the government has now also sought suggestions from the business community.
According to Express News, in this regard, the Federation of Pakistan Chambers of Commerce and Industries, Chambers of Commerce and Industries and business organizations have been asked to send budget proposals to the Tax Policy Office by January 30, 2026.
Sources say that this time the federal budget for the next fiscal year will be prepared by the Tax Policy Office. Stakeholders have been asked to present the justifications for the budget proposals sent along with them and also to tell what impact each proposal will have on tax revenue.
Sources say that now that the Tax Policy Office has become operational, the Ministry of Finance will now prepare the budget instead of the FBR. The Tax Policy Office has been given full responsibility for tax reforms. The decision to consult all stakeholders in budget preparation, priorities have also been decided.
According to the Ministry of Finance, increasing exports and encouraging foreign investment are priorities, and the new budget is considering reducing the tax burden on industries. The government is committed to promoting manufacturing and industrial development.
In the new budget, tax incentives are being considered for the promotion of IT and the digital economy, and environmentally friendly and affordable energy projects have been declared a priority. Focus will be placed on women’s employment and youth employment. The government is determined to eliminate complexities and injustices in the tax system, and trade organizations have been instructed to submit tax proposals by email or by post.
The Ministry of Finance has also issued a special form for budget proposals, tax proposals, background and justification for amendments to laws must also be given. The proposals must state the possible impact on revenue and economic indicators, the possible impact of tax proposals on a particular business sector must also be informed, only concrete tax proposals will be given priority during budget preparation.