Zain Khan Malghani
Multan: Industrial leader and Chairman of SM Group of Industries, Ch. Zulfqar Ali Anjum, has shared his views on Pakistan’s Budget 2026-27, highlighting both concerns and positive steps.
He said the government’s target of 4 percent economic growth is hopeful but difficult to achieve due to global and regional challenges. He pointed to tensions in the Middle East and possible disruptions in supply chains, which may affect trade and exports.
He stressed that the budget does not include strong or practical measures to expand the tax system. According to him, the plan to tax traders on turnover will not greatly increase revenue or bring many new taxpayers into the system.
He suggested strict implementation of the Shops and Establishment Act, saying every business should be properly registered and required to display its registration certificate. This would help build a better database and improve tax collection.
He also mentioned the government’s key policy directions, including tariff reforms under the National Tariff Policy 2025-30, improvements in trade procedures, and targeted support for health and important economic sectors. He said these steps may reduce costs and support exports, but their impact on investment and job creation remains uncertain.
On a positive note, he appreciated the introduction of a new Seed Policy aimed at improving agricultural productivity. Under this policy, PARC will be upgraded with Chinese support to develop modern, climate-resistant hybrid seeds.
He also welcomed the removal of Capital Value Tax (CVT) on foreign assets, saying it encourages investment. He further called the end of Super Tax for incomes up to Rs500 million a positive move for business activity.
However, he warned that Pakistan’s economic problems will likely continue due to fast population growth, low spending on education and health, limited job opportunities, and rising poverty levels.
