Economic experts and industry have urged outgoing government to maintain the coherence of its tax and economic policies while warning against any sudden change that could undermine recent sectoral gains.
Their reactions came in response to the economic survey of Pakistan 2024-25, unveiled by the Minister of Finance and income Muhammad Aurangzeb before the federal budget.
Addressing a supplier when launching the economic survey – a key prebudget document, the finish revealed that the country’s GDP increased by 2.7% with inflation which blocks 4.6% during the outgoing financial year.
He noted that the economic resumption of Pakistan, which began after exercise 2023, gained momentum during the financial year 2024 and showed signs of consolidation during the 2025 financial year, indicating a change towards prolonged stability and GDP growth. “The size of the economy exceeded the $ 400 billion mark for the first time, while per capita income increased to $ 1,824,” he added.
Speaking on PK Press Club News Special transmission, experts have stressed that the current budget lever effect of Pakistan should be oriented towards sustainable political reforms rather than short-term reductions, especially since the federal budget 2024-25 is approaching.
The eminent businessman Zubair Motiwala stressed that the economic credibility of Pakistan has improved and must now be strategically capitalized.
“We have created a budgetary space through difficult measures-something that we have never had before. We must not waste it,” he said.
“I do not think that the budget of tomorrow is easy,” added Motiwala, noting that unresolved problems such as electricity, water shortages and non -competitive gas prices continue to seduce local industries.
“We have to seriously examine whether the production costs of the national industries have been treated,” he said. “Reducing tasks alone is not a recipe for stimulating exports.”
Commenting on taxation, economist Dr Khaqan Najeeb recommended incentives to retailers using digital payment systems like Raast.
“Retailers using Raast should benefit from TPS concessions,” he said, adding: “Raast QR code is a good option. The government should also consider eliminating the” non-filter “category.”
Meanwhile, Sajjad Mustafa Syed – President P @ sha – highlighted the improved performance in the IT sector during the year, but warned against the volatility of politicians.
“This year, we have shown progress in the IT sector … All we are asking for is the consistency of tax policy. Any negative change could cancel the earnings we have made.”
Meanwhile, economist Ali Husnain was of the opinion that it was very important for Pakistan to undertake drastic reforms when the country faced regional competition.
Commenting on government policies, he said: “Management is good, but we have not seen major measures that change the situation … We have to do a lot.”
Explaining the reasons for the lack of taxation, the tax expert Ashfaq Tola said that the major problem was that the agriculture sector paid less than 1% of tax.
“The impact of the retail sector should be between 3% and 4% of GDP as an additional benefit,” he said, adding that the country had potential collection on 16,000 billion tax rupees if the tax was perceived on the basis of equity.
Calling the overall performance of the lamentable agricultural sector, Tola has credited the stable exchange rate and a drop in world prices for raw materials for the drop in the inflation rate.
He also warned against the growth of imported growth, claiming that it would affect local industry and employment and increases pressure on local currency. He added that import should be opened for export -based industry and import substitution.
