FPCCI to present shadow budget for FY 2026–27 next week
- By Anjum Wahab -
- Apr 24, 2026
ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has announced that it will present its shadow budget for the fiscal year (FY) 2026–27 next week, ARY News reported.
FPCCI President Atif Ikram Sheikh said the primary objective of the shadow budget is to expand the tax net and bring the undocumented economy into the formal legal framework. He emphasized strong opposition to placing additional tax burdens on existing taxpayers.
He further noted that current policies for industrial development are unsustainable and reiterated that additional taxes on the manufacturing and export sectors would not be acceptable. He stressed the need to simplify the tax system and introduce incentives for industry and trade.
FPCCI Vice President Saqib Fayyaz Magoon highlighted that high corporate taxes and policy inconsistency remain key challenges for businesses. He added that the high cost of compliance is a major barrier to the documentation of the economy.
Magoon said the shadow budget would include proposals for reducing tax rates, curbing capital flight, and reversing the trend of industrial decline, terming such measures essential for economic stability.
In other news, the Securities and Exchange Commission of Pakistan (SECP) has released its capital market report for the third quarter of the fiscal year, highlighting the performance of Pakistan’s financial markets amid ongoing global and regional challenges.
According to the report, Pakistan’s capital market remained relatively stable despite global economic uncertainty and tensions in the Middle East. The SECP noted that international markets experienced significant pressure, with Brent crude oil declining by 13 percent and U.S. software stocks dropping by as much as 23 percent during the period.
Also Read: FPCCI demands review of amended income tax ordinance
Domestically, the KSE-100 Index recorded an overall decline of 14.54 percent. The benchmark index had reached a historic high of 191,033 points in January before closing the quarter at 148,743 points.
Market capitalization also witnessed a contraction, falling from Rs19.69 trillion to Rs16.53 trillion by the end of the quarter, reflecting broader market adjustments.