ISLAMABAD: The Ministry of Finance’s Tax Policy Office (TPO) has kicked off its pre-budget consultation process in Karachi, holding meetings with representatives of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the Pakistan Business Council (PBC) to seek input on tax policy issues and reform priorities influencing Pakistan’s investment environment.
As part of the consultations, OICCI which represents the country’s leading 200 foreign investors hosted TPO Director General Dr Najeeb Memon on Thursday for an interactive dialogue with its members. A separate session was later held with members of the PBC.
OICCI President Yousaf Hussain said that a consultative, well-signalled, medium-term tax policy framework focused on broadening the tax base, simplifying compliance and aligning taxation with national priorities such as investment, exports and job creation would significantly improve investor sentiment and support sustainable economic growth.
OICCI Secretary General M. Abdul Aleem highlighted the role of tax reforms in maintaining investor confidence. “Foreign investors are increasingly looking beyond short-term stabilisation towards structural reforms,” he said.
Dr Najeeb Memon welcomed the depth and quality of discussions with OICCI members and reaffirmed that stakeholder feedback remains a key element of sound and effective tax policy formulation.
The consultations centred on gaining a clearer understanding of private-sector concerns, pinpointing weaknesses in the current tax system and developing policies aimed at encouraging investment, boosting competitiveness and promoting the formalisation of the economy.
