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  "path": "/latest/industrialists-call-for-sweeping-tax-reforms-lower-gst-in-budget-proposals/",
  "publishedAt": "2026-06-04T08:19:48.000Z",
  "site": "https://humenglish.com",
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    "Latest",
    "Pakistan",
    "Industrialists call for sweeping tax reforms, lower GST in budget proposals",
    "HUM News English"
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  "textContent": "WEB DESK: Businessmen Panel Progressive Chairman Saqib Fayyaz, along with a delegation of industrialists, on Thursday called for greater collaboration with the business community in setting revenue targets, criticising the practice of imposing fixed figures without consultation.\n\nSpeaking at a press conference in Karachi, Fayyaz emphasised that sustainable economic growth required a practical and business-friendly taxation framework.\n\nHe said the panel had already submitted detailed proposals to the government for consideration in the upcoming federal budget.\n\n## Calls to abolish super tax\n\nThe industrialists demanded the complete abolition of the super tax, or at the very least its removal for the manufacturing sector, arguing that it was hampering investment and growth.\n\nThey also proposed reducing the goods and services tax (GST) rate to 15pc to ease the burden on businesses and consumers alike.\n\nFayyaz further recommended restoring the fixed tax regime and introducing measures to broaden the tax net through incentives rather than coercion.\n\nHe suggested the introduction of a single, simplified tax return form to reduce compliance complexities for taxpayers.\n\n### Relief sought for key sectors\n\nThe business leaders called for the removal of tax on cotton seed and special relief for the khalli and banola (cottonseed meal) sector.\n\nThey also stressed the need to lower taxes on industrial raw materials, saying such steps were essential to enhance export competitiveness and support the manufacturing base.\n\nThe post Industrialists call for sweeping tax reforms, lower GST in budget proposals appeared first on HUM News English.",
  "title": "Industrialists call for sweeping tax reforms, lower GST in budget proposals"
}