Islamabad: Prime Minister Shehbaz Sharif on Monday assured the business community of continued government support ahead of the federal budget for 2026-27, while directing the relocation of Pakistan Revenue Automation Limited (PRAL) headquarters to Karachi and ordering the clearance of pending tax refund cases by June 15.
The commitments were made during a pre-budget consultation meeting with representatives of chambers of commerce and industry from across the country, who presented a series of proposals aimed at reducing the tax burden, improving the business environment, and accelerating economic growth.
Addressing the delegation, the prime minister said the government’s economic stabilisation efforts had begun yielding results and pledged further measures in the upcoming budget to support industrial production, exports, and investment.
As part of efforts to address longstanding concerns of exporters, Shehbaz directed the Federal Board of Revenue (FBR) to clear all pending tax refund cases by June 15. He also announced that the export refinance scheme rate would remain capped at 4.5% until June 2027, providing greater certainty for export-oriented businesses.
In another key decision, the prime minister ordered the relocation of PRAL headquarters to Karachi, the country’s commercial centre, in a move aimed at bringing tax administration closer to the business community.
The prime minister reiterated the government’s commitment to reforms and facilitation for small and medium-sized enterprises (SMEs) and encouraged investors to explore opportunities in local electric vehicle manufacturing. He also reaffirmed the government’s focus on export-led growth and expanding economic activity through collaboration between the public and private sectors.
During the meeting, business leaders called for tax relief measures in the upcoming budget and urged the government to accelerate reforms to improve competitiveness, investment, and industrial output. Representatives from chambers of commerce across the country also highlighted the need for timely refunds, policy consistency, and a broader tax base supported by digitisation.
The business community welcomed several government initiatives, including reforms in the Export Development Fund, ongoing FBR digitisation efforts, e-invoicing systems, and progress on the privatisation of Pakistan International Airlines (PIA). They also expressed support for the government’s housing initiatives and efforts to formalise the economy.
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