LAHORE – The Lahore Chamber of Commerce and Industry (LCCI) has welcomed the move of the government to extend the deadline for filing income tax returns by 15 days. The LCCI sees this as a huge relief for the business community and an immensely beneficial step towards building and solidifying the alliance between the private and public sectors.
LCCI President Faheem-ur-Rehman Saigol appreciated Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and FBR Chairman Rashid Langrial for accepting the Chamber’s long-standing demand. He said this timely action would benefit business owners but also enhance increased trust and understanding between the government and the business community.
“The business community is the backbone of Pakistan’s economy and national development,” Saigol stated. “This action demonstrates the government’s intent to create a business-friendly environment and drive economic growth.”
LCCI Senior Vice President Tanveer Ahmad Sheikh and Vice President Khurram Lodhi further said that the Chamber had regularly been raising its issues regarding the difficulties of taxpayers and requested more time to complete their tax filings. They said that the extension is an indication of the government’s desire to listen to the voice of reason and make public-private partnerships stronger.
LCCI leaders also pointed out that this extension would especially favor small and medium-sized businesses (SMEs), whose resources and available time are insufficient to prepare for tax payment before the deadline. The additional 15 days will facilitate the filing process, lead more business to file, and help in broadening the tax base and increasing revenue.
Faheem-ur-Rehman Saigol concluded that the LCCI would remain in close contact with the government on ensuring better ease of doing business, tax reforms, and economic stability. He stressed that LCCI would continue to act as a bridge between the private sector and policymakers to facilitate Pakistan’s economic growth.
