RCCI calls for tax reduction, construction package to revive industry

RAWALPINDI: A delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI), led by President Usman Shaukat along with Group Leader Sohail Altaf, met with the Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, in Islamabad.

During the meeting, the RCCI delegation emphasized that to ensure economic benefits reach the grassroots level, the policy rate should be brought down to single digits. The Chamber also recommended reducing corporate and individual tax rates to stimulate industrial activity, encourage investment, and boost exports.

The RCCI leadership further urged the government to immediately announce a comprehensive construction package to revive industrial activity. They highlighted that more than forty allied industries are directly linked with the construction and real estate sector, which provides employment to millions of people across the country.

President Usman Shaukat also briefed the Special Assistant about RCCI’s recent trade delegation visit to the United States. He presented proposals aimed at protecting foreign investment in Pakistan through special arbitration mechanisms and enhanced security arrangements. In response, Haroon Akhtar Khan informed the delegation that the necessary legal provisions have already been incorporated into the forthcoming Industrial Policy, which will be announced soon.

The meeting also included discussions on the evolving global economic landscape, prevailing geopolitical tensions, and Pakistan’s economic policies, along with the challenges currently being faced by the business community. The RCCI delegation presented several recommendations to support economic growth and industrial revival.

Matters related to the development of industrial zones, particularly around the Rawalpindi Ring Road, also came under discussion.

Special Assistant Haroon Akhtar Khan assured the delegation that RCCI’s recommendations regarding the construction package would be given due consideration. He also stated that a high-level meeting regarding the Rawalpindi Ring Road project would soon be convened. He appreciated RCCI’s proposals for industrial development and termed them constructive and commendable. The delegation included Senior Vice President Khalid Farooq Qazi, Executive Member Imran Ali and others. APP