By SKM
June09, 2025
ISLAMABAD: Mr Ejaz Gohar, former Federal Minister of Commerce, Industries, and Interior and existing patron-in-chief of APTMA has come up with a recipe to get the country out of economic morass titled ‘a roadmap to economic stability and export-led growth’ a day before the federal budget for FY26 which is to be presented today (June 10, 2025) here in the Parliament.
In his x-tweet on June 9, 2025, Mr Gohar suggested to the financial managers of the government involved in making the budget ‘A Roadmap to Economic Stability & Export-Led Growth’ saying that industrialization must be a top priority for the government functionaries.
For rapid growth, he suggested that Special Industrial Zones near major cities are needed with full infrastructure and globally competitive Energy rates. Most importantly, the industry must be cost-competitive to win in global markets. He also highlighted that the Export Facilitation Scheme (EFS) is a discriminatory policy against the domestic value chain and imported products, and the discrimination has led to massive closure in the domestic value chain, the domestic industry must be protected.
Mr Gohar also stressed a consistent 5-Year Industrial & Export Policy for increasing the footprints of industrialization across the country resulting in a massive surge in exports. This will help increase the confidence of the investors both from within and outside the country as the investors need predictability. He also pinpointed that the economy needs direction.
He also suggested to the government’s top decision-makers that the interest rates should be brought to 6% and energy tariffs for the industry at 9 cents/unit are critical to make Pakistani products globally competitive. “Exporters achieving 10% plus growth YoY should be offered 6% drawback of local taxes as the rewarding performance will drive exports to new highs.
The former commerce minister also asked for the maximum tax rate for salaried individuals should be capped at 20% saying: “Let the middle class breathe and spend.”
He advocated that super tax must be applied only at those corporations which have profits over Rs10 billion. “Let SMEs grow without suffocation,” he stressed.
“More importantly, the construction sector is the engine of over 50 allied sectors and employs millions. It must be declared a national priority sector.”
He mentioned that the withholding taxes on tax-filer property buyers discourage home owners. “That tax must be withdrawn to revive real estate.”
Agriculture is our backbone and to increase the production of wheat, cotton, maize and sugarcane, the government needs to spend on research and development for better returns of the said cash crops
He said that corporate farming is the way forward to modernize agriculture, scale productivity, and ensure food security. “Competitiveness is the ability of a country to produce goods and services efficiently, to meet international market standards, while creating value for its enterprises and bringing prosperity for its people. Let’s reform. Let’s rebuild. Let’s rise as a Nation.” Ends
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