Government will reduce direct taxes to support business – S2S BLOG

Government will reduce direct taxes to support business – S2S BLOG

Prime Minister Shehbaz Sharif has announced that the government plans to gradually reduce direct taxes to ease the burden on businesses and promote economic growth. He made these comments during the launch of the PSDP data portal at the Ministry of Planning, describing the initiative as a step towards promoting transparency, investment and private sector development.

The government is working towards creating a business-friendly environment by encouraging exporters, investors and industrial stakeholders to do business in the country. He stressed that regulatory clarity and policy consistency are necessary to restore investor confidence and ensure sustainable economic growth.

Acknowledging the recent challenges, Shehbaz Sharif said Pakistan has faced political uncertainty, economic pressure and global instability. He noted that while some economic indicators have improved, ordinary citizens are yet to feel real relief from inflation and the rising cost of living.

Referring to Pakistan’s IMF programme, he stressed the need to maintain fiscal discipline and continue economic reforms. He said expanding the tax base remains essential, while reducing pressure on compliant sectors and improving tax collection.

During discussions in the Senate, Senator Sherry Rehman noted that while the economy may appear stable on paper, people’s daily lives have not improved significantly. She also expressed concern that indirect taxes collected by industries such as sugar, cement and tobacco were not fully contributing to national prosperity.

The Prime Minister concluded that long-term planning, institutional reforms and collective national efforts are needed to ensure that economic stability translates into practical assistance for the public.

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