FPCCI Hails SIFC’s Push for FBR Reforms and Tax Simplification

The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has welcomed the recent meeting of the Special Investment Facilitation Council (SIFC) committee. The organization appreciated the work on business facilitation and Federal Board of Revenue (FBR) reforms, calling it a major step toward improving Pakistan’s business climate. Acting FPCCI President Mr. Saquib Fayyaz Magoon said the session reflected real progress in simplifying tax processes, addressing long-standing issues, and fostering cooperation between the public and private sectors. The meeting, chaired by Minister of State for Finance Mr. Bilal Azhar Kayani, brought together senior officials from the SIFC, FBR, and key ministries, alongside representatives from chambers of commerce across Karachi, Lahore, Faisalabad, Quetta, Sarhad, Rawalpindi, Multan, Sialkot, Gujranwala, Gujrat, and Haripur. The discussions focused on easing doing-business challenges and removing bureaucratic hurdles. Participants emphasized that SIFC is playing a vital role in driving economic reforms and restoring investor confidence during the recovery phase. Mr. Magoon said FPCCI appreciated the government’s willingness to engage the business community through consultation rather than confrontation. He cited recent progress on key matters such as phased e-invoicing, input tax clarifications under Sections 8B and 40B of the Sales Tax Act, and simplified compliance for both sales tax and income tax. “These developments mark a shift from punitive enforcement to supportive policymaking,” he said. He also urged the government to curb misuse of the Export Facilitation Scheme (EFS), reduce electricity tariffs for industries as earlier promised, and replicate the faceless tax model of customs in Inland Revenue to minimize human interaction and corruption. The meeting noted positive steps already taken, including the reversal of restrictive provisions from the Finance Bill 2025–26, particularly under Sections 37A and 21(s), which had raised concern among businesses. Mr. Kayani reiterated the government’s commitment to streamline tax administration, enhance efficiency, and lower compliance costs. He said the SIFC will continue to function as a single-window platform to advance the Prime Minister’s vision of achieving 100 billion dollars in exports and sustainable economic growth. FPCCI Vice President Mr. Zaki Aijaz said these measures could help attract foreign direct investment in agriculture, minerals, IT, energy, and defense. He also stressed that momentum must be maintained through continued consultation on customs digitalization, tariff rationalization, and energy cost reduction.