GOVT UNVEILS FIXED TA X REGIME FOR SMALL TRADERS, SHOPKEEPERS AHEAD OF BUDGET
Tber and National Tax Number (NTN) along with a QR code A tax inspector would be able to scan the QR code on the plaque and, if it is found to be genuine would not be permitted to enter the premises for tax-related inspections the minister added Scheme to be accessible in local languages; POS and audit exemptions Minister of State for Finance Bilal Azhar Kiani, who led negotiations with trader bodies said the scheme would apply to businesses with annual turnover of up to Rs200 million A flat tax rate of 1 per cent would be payable through a simplified form available in all local languages He said those opting for the scheme would be exempt from Point-of-Sale (POS) requirements and tax audits In case of disputes matters would be re-
A JK declares JA AC as ‘proscribed organisation’ ahead of planned strike
The Azad Jammu and Kashmir (AJK) government on Friday declared the Joint Awami Action Committee (JAAC) a proscribed organisation and placed it in the First Schedule of the Azad Jammu and Kashmir AntiTerrorism Act 2014
According to a notification issued by the Home Department, the government alleged that the organisation had engaged in activities detrimental to the peace and security of the state The notification stated that the group was involved in creating unrest, intimidating the public promoting hatred and generating insecurity within society The notification further said that the President of AJK had approved the inclusion of the Jammu Kashmir Joint Awami Action Committee (JK-JAAC), also known as the Joint Awami Action Committee (JAAC) and Awami Action Committee (AAC), in the list of proscribed organisations under the Anti-Terrorism Act The move comes amid escalating tensions over the group s call for a region-wide wheel-jam
MUZAFFARABAD
S TA F F R E P O R T
solved in consultation with the relevant traders association Both non-filers and existing filers would be eligible, provided their turnover had not exceeded Rs200 million in any of the preceding three years and the minimum tax payable was higher than that paid in the previous year He added that traders outside both the fixed tax scheme and the normal tax regime would face penalties of Rs10,000 per month for the first month rising to Rs25 000 in the second month and Rs51 000 in the third month Kiani said the scheme was designed after lessons learned from previous initiatives and would be successful this time He added that kiosks and pushcart-based small traders would be excluded from the scheme Scheme to cover 3 5 million traders
The Azad Jammu and Kashmir (AJK) Election Commission on Friday announced that general elections in the region will be held on July 27 and unveiled a detailed election schedule formally setting in motion the electoral process ahead of the completion of the Legislative Assembly s five-year constitutional term Addressing a press conference, AJK Chief Election Commissioner retired Justice Ghulam Mustafa Mughal said the elections would be conducted under the supervision of the army, paramilitary and civil armed forces, while reaffirming the
FBR Member Hamid Attique Sarwar said there are around 4 4 million traders in the country of whom approximately 3 5 million would fall under the new scheme Larger traders, classified as Tier-1 and mostly operating in the branded sector, estimated at between 50 000 and 100 000 businesses would not be eligible
He said most traders under the scheme currently pay little or no tax and even small contributions would significantly broaden the tax base without overburdening compliant taxpayers He clarified that the initiative should not be termed an amnesty scheme
Officials said eligibility would require at least three years of business operations, a physical business premise, and engagement in non-specialised commercial activity Small taxpayers already filing returns before 2025 could also join if they meet the criteria
Traders will be able to register through the FBR website mobile applications or tax practitioners, and will be required to maintain simplified records of sales, purchases, expenses and other transactions
Participants will also gain benefits such as Active Taxpayer List (ATL) status reduced withholding tax rates and improved financial credibility
The development comes ahead of the federal budget for FY2026-27, scheduled for June 10, which is expected to be prepared under the close supervision of the International Monetary Fund (IMF)
commission’s commitment to ensuring a free fair and transparent electoral exercise
Let me reiterate that the elections will be free, fair and transparent We will make every effort to ensure that voters can exercise their right to vote freely ” he said The chief election commissioner was accompanied by constitutional member Syed Nazeerul Hassan Gillani, Secretary Raja Shakeel Khan and other election officials Under the election schedule, nomination papers can be submitted to returning officers from June 9 until 4pm on June 19 Scrutiny of nomination papers will begin on June 20, when the list of eligible candidates will also be displayed
Candidates will be allowed to file appeals against the acceptance or rejection of nomination papers from June 21 to June 24, while ap-
didates
lotted
N D E N T Minister for Defence Khawaja Muhammad Asif has said that demands to abolish the 12 seats in the Kashmir Assembly reserved for Kashmiri voters residing in Pakistan are tantamount to an attempt to undermine and disrupt the electoral process
This demand, made ahead of the upcoming elections, is tantamount to sabotaging the electoral process the defence minister wrote on his social media platform X Democratic principles require
that those making this demand present it to the public on July 27 and allow the people to decide and shape their own representation Only then can it be considered democratic; otherwise it will be seen as blackmail He said in Sialkot city and tehsil, there is one seat in the Azad Kashmir Assembly and two seats in the Pakistan National Assembly The remaining Kashmir Assembly constituencies are spread across Pakistan In Sialkot the majority of Kashmiri migrants are from Jammu, he said He said in October
1947, these migrants settled in Sialkot city and tehsil after sacrificing over 200 000 lives Modesty of hundreds of thousands of women was outraged and thousands of daughters were abducted How can these migrants be deprived of their rightful representation, he questioned For decades these migrants have lived in extreme poverty deprived of basic necessities of life They have paid a very high price for freedom Those seeking to have their opinions recognized should follow democratic means
TNational Assembly cuts 381 posts, targets ₨4.5b savings through austerity drive
CONTINUED FROM PAGE 01
Justice Mughal dismissed concerns raised in some quarters regarding the commission s capacity to conduct the elections, maintaining that the institution was fully prepared to fulfil its constitutional responsibilities
Holding elections is our constitutional obligation, and we have been fully prepared to discharge that responsibility in letter and spirit,”
he said The chief election commissioner described accurate electoral rolls as the foundation of free fair impartial and credible elections
H
troduction of a computerised voter
generated complaints regarding in-
of voters from one constituency to another
While errors in the preliminary rolls could not be ruled out, the tireless efforts of the administration election officials and the
exemplary cooperation of Nadra helped us rectify omissions and inaccuracies ” he said “I can now say that 99 per cent of the electoral rolls are transparent and free from errors providing a sound basis for credible elections, he added
Justice Mughal also announced the immediate enforcement of election-related restrictions including a ban on postings transfers and the creation of new government posts
He said any transfers or postings necessitated by unavoidable circumstances would require prior approval from the Election Commission
He further said the approval of new development schemes as well as the distribution of electricity poles and water supply pipes practices often associated with pre-election periods had been prohibited However, development projects already included in the Annual Development Programme would continue uninterrupted
Referring to the 12 constituencies reserved for Kashmiri refugees
settled in Pakistan, Justice Mughal said elections on those seats had previously been conducted under judicial supervision Following the judiciary s withdrawal from the process he said officials of the Election Commission of Pakistan would now oversee those elections Justice Mughal, who also served as chief election commissioner from 2016 to 2019 expressed confidence that the upcoming elections would be conducted as peacefully and transparently as the 2016 polls
Responding to a question about the ongoing protests led by the Jammu Kashmir Joint Awami Action Committee (JAAC) he acknowledged that prolonged agitation could affect election-related activities
TH E US House of Representatives voted for a resolution which told President Donald Trump to withdraw forces from Iran unless Congress makes a declaration of war or authorizes the use of military force Though the resolution will have no effect if the Senate does not pass it or if Mr Trump vetoes it and it is not overturned by a two-thirds majority it sends a signal about the political mood of the electorate It should be remembered that all Representatives are up for re-election come November and their vote shows the mood of the country It should be remembered that the US constitution allows the power of declaring war only to Congress which is why Mr Trump and his officials have insisted that it is not a war with Iran so as not to fall foul of the 60-day limit placed by the War Powers Resolution which allows that period for the President to order troops into combat without the requisite declaration from Congress
Getting the resolution through the Senate might be difficult because the Republicans have a majority
However it may be overturned just as the one it has in the House was if enough Republican Senators vote in favour There are a number of Senators who are lame ducks who were denied the Republican ticket in November after being defeated in the primary by a Trump nominee While the number is small it is enough to overturn the Republican majority However while Mr Trump will almost certainly veto it and it is virtually impossible to cobble together the two-thirds majorities needed to override it it does reflect the mood in the country
The war is hurting the American public immensely, and they are likely to punish their elected representatives at the ballot box in November Worse for Mr Trump, even if he does strike a deal, the electorate may defeat his nominees, as the electorate punishes him for the war As he pointed out, passing such a resolution in the endgame of the negotiation was bound to affect the Iranian assessment of the situation However, that should not blind him to the possibility that the war was a bad idea It may have served Israeli objectives, but his acrimony with Israeli PM Benjamin Netanyahu
Editor
should
PA K I S TA N’S economic debate is often shaped by the belief that reducing tariffs, opening markets and exposing domestic industries to greater competition will automatically generate economic growth The argument appears straightforward and compelling Lower tariffs are expected to reduce prices, improve efficiency, and integrate the economy more deeply into global trade Yet economic history suggests that this pathway is neither simple nor universally successful Many of today’s advanced industrial economies did not begin their development under conditions of unrestricted competition Their industries were not immediately exposed to global market forces Instead, they were supported through carefully designed policies that allowed domestic production to grow, acquire scale, and develop technological capacity before facing full international competition This historical perspective is particularly relevant for Pakistan at a time when tariff reductions continue to be implemented alongside significant structural weaknesses in domestic industry The central question is not whether trade is beneficial Trade is essential The real issue is whether domestic industries are being given a fair opportunity to compete on equal terms Industrial development is inherently a gradual process It requires sustained investment access to affordable financing stable policy environments technological upgrading, skilled labour, and efficient infrastructure Without these foundations, industries struggle to move beyond survival, let alone achieve global competitiveness Pakistan’s manufacturing sector currently operates under considerable pressure Energy costs remain high compared to regional economies High borrowing costs restrict expansion and modernization Tax structures are complex and frequently adjusted Regulatory uncertainty continues to discourage long-term planning These structural constraints significantly raise the cost of production At the same time tariff reductions have increased
alumnus of Zhejiang University, I
many of Pakistan’s
by Chinese
We return home not only with
grees but with a deep personal
for China–its language, its culture, and its people We become bridges And today, on this 75th anniversary, I call upon every Pakistani who has studied in China, and every Chinese who has worked in Pakistan to speak loudly of this bond Tell the next generation that true friendship is possible between nations– different in geography culture and faith yet united in heart Since our childhood, we have heard these words: Pakistan-China friendship is higher than the Himalayas, deeper than the ocean, sweeter than honey and stronger than steel Now on this 75th anniversary I venture to add a few more:
n Pakistan-China friendship is closer than brothers, more loyal than a shadow, more durable than the Great Wall
n This friendship is purer than a spring in the Karakoram and brighter than the silk of Hangzhou
n Our relationship is more faithful than the monsoon rains more unbreakable than the bonds of a shared library at Zhejiang University
n Our bond is warmer than the tea shared in Hangzhou deeper than the roots of a thousand-year-old ginkgo tree
n Our friendship is not written in ink but im-
exposure to imported goods produced under far more favourable conditions In many competing economies, producers benefit from lower energy costs, cheaper credit, advanced logistics systems, and sustained policy support This creates a structural imbalance that cannot be resolved through tariff policy alone A strong industrial base is not merely one component of economic activity; it is a foundation of sustained economic growth Manufacturing drives employment creation, strengthens export capacity, enhances productivity, and supports technological advancement Countries that have achieved long-term economic stability have consistently maintained strong domestic production capabilities When industrial capacity weakens the effects extend far beyond factories Employment opportunities contract Investment declines Import dependence increases Trade deficits widen Foreign exchange pressures intensify Over time, this creates structural vulnerabilities that become increasingly difficult to correct This is why tariff policy must be understood within the broader framework of industrial development It cannot be treated as an isolated instrument aimed solely at lowering prices or increasing competition
A nationÊs economic strength is ultimately determined not by the volume of its impor ts, but by the strength, productivity, and competitiveness of its domestic productive capacity
printed in granite Not spoken in whispers but echoed from the rooftops of Islamabad to the shores of Shanghai
n A friendship that asks no price, demands no proof, and bends but never breaks under the weight of the world
I drank from the same well of knowledge as my Chinese brothers That taste– of respect and shared dreams– is sweeter than any honor the world could bestow As an alumnus of Zhejiang University, I wish to pay tribute to the PakistanChina friendship We planted a seed in 1951
Today it is a banyan tree whose roots have crossed the Karakoram and whose branches shelter generations We honor the vision of leaders who saw not borders but bridges To our Chinese brothers and sisters: thank you for 75 years of standing with Pakistan Thank you for your investments, your scholarships, your technology, and your trust And to my Pakistani family: let us remain worthy of this friendship Let us invest in our youth in transparency in the promise of CPEC and in the dream of a regional future defined not by rivalry, but by cooperation The next 25 years will take us to our centenary Imagine what we can build together: green corridors digital highways joint laboratories and exchange programs that make our students citizens of both nations The foundation is solid Now let us raise the roof
Pakistan Zindabad China-Pakistan Dosti Zindabad
The writer is an alumnus of Zhejiang University Hangzhou China
Governance rush
dR TaRiq Rahim SoomRo
Rizwan ahmad
The
Europe’s anti-Israel sanctions
The Europeans pick up where the Biden administration left off
Thours had ended Others reportedly abandoned the process altogether after hours of uncertainty and delay Such a scenario should have been unthinkable in a mature democracy Preparing an adequate number of ballot papers is one of the most basic responsibilities of any election authority Elections are conducted not on the assumption that only a projected
high voter turnout that exceeded expectations This explanation is difficult to accept A turnout rate slightly above 60 percent cannot reasonably be described as an unforeseeable anomaly More importantly the quantity of ballot papers should never depend solely on turnout projections As unlikely as it may be election officials must prepare for the possibility that every registered voter may appear at the polls To do otherwise raises troubling questions about planning oversight and operational competence
Equally concerning is the impact on public trust Elections derive their legitimacy not only from the accuracy of the final count but also from public confidence that the process
talks on a longer-term end to hostilities reopening Hormuz, ending a US blockade on Iranian ports and creating a path toward negotiations over Iran’s nuclear programme
Ex-wife of D ubai ruler ’s nephew detained in child custody c ase
former international gymnast from Azerbaijan, has since late 2025 shared Instagram posts featuring her daughters in which she appealed for help and accused
Zeynab Javadli has been taken into custody, following a complaint filed by the father of her three children alleging that she abducted the children during
former husband of taking the children away Mahmood Hussain a lawyer for Sheikh Saeed said his client had been granted custody of the three girls in 2022 According to Hussain that ruling was later upheld by an appeals court and confirmed by the Dubai Court of Cassation Despite these rulings, Ms Javadli abducted the three children during a court-approved temporary visitation session in 2025 She subsequently published a series of videos on social media containing defamatory allegations against the children s father which exposed the children
Sherpa who is also known as Hillary after mountaineering pioneer Edmund Hillary was airlifted to Kathmandu for treatment Doctors said he is being treated for frostbite on his fingers, a fractured thigh bone and severe dehydration Jyotindra Sharma director of HAMS Hospital in Kathmandu said Dawa Sherpa had survived very difficult conditions on Everest His clinical condition remains stable, and his dehydration is showing significant improvement IHe will remain in the ICU (intensive care unit) for a few more days for ongoing care and observation Family raises concerns over rescue response His survival prompted relief and celebration among relatives, but also anger over the response after he went missing His wife Damu Sherpa said she was overwhelmed when she received a photograph of him being flown to the capital Speaking outside the hospital s intensive care unit, she said: I do not remember how this week
went we thought he was no more, and had already begun his last rites I was so surprised when I saw the photos and recognised him he was still wearing a cap I knitted for him
The climb was among the last of the season when fewer climbers remained on the mountain Damu Sherpa accused the expedition company of not sending search teams quickly enough and called for an inquiry
There should be some investigation against the company they delayed search and rescue for him Karma Gyalje Sherpa, a relative and Everest guide, said the episode had left him upset and questioned whether the response might have been different if the missing climber had been a wealthy foreigner It is a miracle that he survived in that environment without eating properly for six days
The situation does make me feel angry We don t know, but if he were a foreigner, maybe the response would be different?
Sherpa
Everest guide from the same village as Dawa Sherpa described him as an experienced climber who understood the risks of the mountains and was committed to helping his
He is very loyal to his clients, and diligent with making sure he performs his responsibility
He is very lucky, he has had several close calls before but
CORPORATE CORNER
CBD Punjab secures strong investor interest as NSIT cit y petrol station sites fetch competitive bids
PUNjAB STEPS UP GREEN AGENDA
U N J A B Chief Minister Maryam Nawaz on Friday reaffirmed her government's commitment to combating plastic pollution and improving environmental sustainability directing authorities to expedite work on the province s first Environment Observatory Project as Punjab marked World Environment Day In a special message issued on the occasion the chief minister urged citizens to plant more trees and help protect natural resources while expressing satisfaction over the significant reduction in fog and the overall improvement in environmental conditions witnessed during the past year
She also commended Senior Minister
Marriyum Aurangzeb and her team for their efforts in bringing about notable environmental improvements in Lahore and other parts of the province according to a statement issued by the Chief Minister s Office (CMO)
Maryam Nawaz directed the relevant authorities to ensure the early completion of the region's first Environment Observatory Project and ordered the continuation of legal action against the manufacture, sale and use of substandard
BMPP Calls for Industrial and Export Incentives in Federal Budget
Complaint Cell Saima Farooq on Friday said that public trust remains the true strength of the government and is further reinforced through people-centric governance Presiding over an open court (Khuli Katcheri) held at the Sahiwal Arts Council she said such forums serve as an effective mechanism for directly conveying citizens concerns to government representatives, ensuring the provision of justice and relief at their doorstep Commissioner Sahiwal Division Dr Asif Tufail Deputy Commissioner Capt (retd) Samiullah Farooq District Police Officer Muhammad
She further reiterated the government’s commitment to the continuous monitoring of applications received through open courts to ensure meaningful relief for citizens and the effective delivery of services at the grassroots level LAHORE S A L E E
Usman Tipu, and officers from various government departments were also present on the occasion During the open court citizens submitted complaints and issues related to different government departments A total of 271 applications were received, which were handed over to the concerned officials with instructions for immediate action and resolution within the stipulated timeframe Saima Farooq said that on the instructions of Chief Minister Punjab Maryam Nawaz Sharif, open courts are being held across the province to bridge the gap between the government and the public and to provide citizens a direct platform to register their grievances She directed officials to ensure
Zong 5G sweeps Pakistan Digital Awards
ISLAMABAD STAFF REPORT
Zong 5G Pakistan s leading technology service enterprise has earned national recognition through a remarkable double victory at one of the most prestigious industry platforms of the country The company secured a Pakistan Digital Award for the Best Social Media Campaign (Meta): My Zong App and a Made in Pakistan Tech Excellence Award for its groundbreaking Self-Intelligent RAN Optimization Platform The dual achievement reflects Zong 5G s commitment to its strategic pillars of delivering ultimate customer experience, expanding diversified digital products and services, and accelerating AI enablement across its operations and network ecosystem It further reinforces the company’s goal of building a Digital Pakistan through nextgeneration technologies that create meaningful value for consumers businesses and communities At the Pakistan Digital Awards, Zong 5G s My Zong App campaign was recognized as a standout digital marketing initiative, demonstrating the company’s ability to connect with customers through innovative and customer-centric experiences Designed to address the evolving connectivity needs of modern Pakistani families and social circles the campaign strengthened customer engagement while reinforcing Zong 5G s position as a trusted partner in Pakistan’s increasingly digital lifestyle Commenting on the achievement Sajid Munir Head of Marketing Zong 5G said:“At Zong 5G we are leveraging 5G AI and emerging technologies to create intelligent and immersive experiences that meet the evolving needs of our customers
prompt progress on all applications and warned that any negligence in addressing public issues would not be tolerated No genuine complaint of any citizen will be ignored and all departments must discharge their responsibilities with a spirit of public service, she said She added that the Punjab government is implementing practical measures to ensure sustainable solutions to public issues promote transparency and improve the performance of public institutions
COMSATS 26th Meeting of Coordinating Council in Indonesia, High-level International S&T Conference
The Commission on Science and Technology for Sustainable Development in the South (COMSATS), is holding 26thMeeting of its Coordinating Council on 8-9 June 2026, hosted by COMSATS’ Centre of Excellence Institut Teknologi Sepuluh Nopember (ITS) Surabaya Indonesia The Council Meeting will culminate into COMSATS-ITS International Conference on "Emerging Technologies for Sustainable Development" on 10 June 2026 COMSATS is an inter-governmental organization striving to promote technologybased solutions to facilitate sustainable socio-economic development of its 27 Member States COMSATS Coordinating Council is a Statutory Body comprising world renowned scientists and scientific experts It s a fountainhead of scientific activities for capacity building, research and analytical work and helps member states keep pace with the global trends in Science technology and innovations The Council meeting will be attended by Heads and Representative Plenipotentiary of COMSATS International S&T Centres of Excellence to review the ongoing and future
and activities of COMSATS
Ignite welcomes Muhammad Bilal Abbasi as CEO
ergy import bill had increased from around $300 million before the conflict to approximately $500-$600 million, placing additional pressure on foreign exchange reserves and the rupee If the conflict continues the rupee is likely to come under greater pressure because more dollars will be required to finance energy imports, he said The State Bank of Pakistan had already warned during the APCC meeting that inflation could remain around 8 2 percent in FY2026-27 due to uncertainties arising from tensions in the Middle East and their impact on global energy markets Professor Zafar Habib of the Institute of Management Sciences (IMSciences), Peshawar, said the inflationary impact of the conflict extends far beyond Pakistan
“The impact is not limited to Pakistan
The entire world is feeling the effects of the energy crisis triggered by the conflict he told Gwadar Pro Energy prices do not affect only oil and gas They influence electricity, transportation, agriculture, and almost every sector of the economy,” he said
“Countries that are heavily import-dependent such as Pakistan are particularly vulnerable because higher energy prices put additional pressure on their external balances, Habib said, adding that the oil price shock had become a key driver of rising production and transportation costs
PML-N MPA Chadhar granted pre-arrest bail in cyber harassment case filed by Momina Iqbal
LAHORE S TA F F R E P O R T
A day after the National Cyber Crime Investigation Agency (NCCIA) registered a case against PML-N MPA Saqib Chadhar over allegations of cyber harassment and intimidation of television actor Momina Iqbal the lawmaker on Friday secured interim pre-arrest bail from a Lahore court Additional District and Sessions Judge Irfan Ahmad Sheikh granted the protective bail after hearing Chadhar s plea The court barred the NCCIA from arresting him till June 24 and directed the agency to submit the complete case record at the next hearing Chadhar appeared before the court along with his counsel Mian Ali Ashfaq
The NCCIA had registered the case on Thursday on Iqbal s complaint under Sections 3 4 21 and 24 of the Prevention of Electronic Crimes Act (PECA), read with Sections 506, 201, 34 and 109 of the Pakistan Penal Code In the FIR Momina Iqbal al-
leged that Chadhar his wife and their known and unknown associates had launched a sustained campaign of cyber harassment, stalking, criminal intimidation, blackmail defamation unlawful surveillance and threats against her and her family
She further alleged that after rejecting Chadhar s marriage proposal upon discovering he was already married, he retaliated with repeated threats, attempts to access her private data and blackmail involving private videos
The FIR stated that the accused also defamed her socially and professionally, sabotaged her 2023 marriage proposal through false information, and later intensified threats to leak private material harm her and her fiancé and disrupt her upcoming marriage causing severe emotional reputational and professional damage
It added that preliminary technical and forensic analysis of mobile phones and other devices of both parties had yielded evidence leading to the registration
of the case
The matter came into the spotlight after Iqbal posted on social media alleging prolonged cyber harassment, bullying and death threats which drew attention from senior PML-N leadership including Chief Minister Maryam Nawaz She claimed she and her family had suffered severe mental distress and that repeated complaints to NCCIA and the FIA had initially gone unaddressed
Iqbal also alleged that attempts were made to suppress her complaint including pressure from individuals linked to the Chief Minister s Office A source had earlier stated that the PML-N leadership subsequently directed NCCIA to immediately take up the matter and proceed if allegations were substantiated
Following these developments NCCIA summoned both Iqbal and Chadhar on May 21 The agency said they were called after receiving the complaint, and recorded their statements before the FIR was lodged
The business community has urged the government not to use the International Monetary Fund programme as a justification for imposing additional pressure on industry and the public in the upcoming budget arguing that stronger revenue collection should come from sectors that remain undertaxed rather than from documented businesses already in the tax net Pakistan Business Forum (PBF) Chief Organiser Ahmad Jawad said the federal budget s success would depend on whether the government could widen the tax base without further straining formal-sector businesses Speaking on the issue, he said the decision to enter the IMF programme had been taken by the government itself and did not mean businesses and consumers had to face added fiscal pressure each year
Jawad said Pakistan's economy has averaged about 3% growth over the past four years,
which in his view highlighted the need for policies that promote investment industrial activity and employment generation He warned that if new taxes are imposed in the next budget, economic activity could weaken further at a time when growth remains fragile He also said the cost of doing business in Pakistan is around 34% higher than in many competing regional economies, a factor he said had hurt the ability of local industries to compete in export markets Concerns over business costs
According to Jawad a written submission by the Ministry of Commerce to the National Assembly Standing Committee on Commerce identified several structural reasons for high business costs He said these included an anti-export bias in the tax regime limited financing access elevated energy tariffs that reduce industrial competitiveness, and weak trade facilitation that raises compliance and transaction costs
Jawad said the ministry's as-
Possible options include exporting the material, diluting it or keeping it in Iran under IAEA monitoring, he said, adding that any decision would ultimately be political Grossi however said the first step should be for the agency to go to Iran to check the amount Ahead of the meeting Grossi also warned that nuclear facilities must not be targeted during conflicts "Regardless of where they are located around the world, nuclear facilities should never be attacked," he said His remarks came after a visit to the Arab Gulf region where he met regional leaders and toured the Barakah Nuclear Power Plant in the United Arab Emirates which was struck by a drone on May 17 "Attacks on nuclear facilities
sessment supported concerns repeatedly raised by the business community and showed the need for reforms in the budget aimed at improving competitiveness, increasing exports, attracting investment and lifting economic growth
Among the PBF's budget recommendations for June 10 he said is the removal of the petroleum levy and its replacement with an 18% general sales tax on petroleum products, which the forum says would make the tax structure more transparent
The forum has also called for targeted support for agriculture especially cotton which Jawad described as Pakistan's white gold He said policy support was needed to revive cotton output, strengthen the textile value chain and reduce reliance on imported cotton He added that the government should also include measures to develop the blue economy and modernise agriculture, saying both sectors hold considerable untapped potential for exports and sustainable growth