STAFF REPORTER
PESHAWAR : Renowned legal expert Muazzam Butt Advocate has called for consistent taxation policies, transparent regulations and simplified procedures to address the growing challenges faced by steel mills and other industrial units in Khyber Pakhtunkhwa, warning that frequent changes and daily notifications issued by the Federal Board of Revenue (FBR) are undermining business confidence and discouraging investment.
He expressed these concerns while speaking at a function organised by the Legal Research Institute of Pakistan Economic Forum (LRIP), where participants discussed taxation issues, industrial challenges and measures to improve the investment climate in the province.
Muazzam Butt said industrial and commercial activities in Khyber Pakhtunkhwa were already facing serious difficulties, while frequent changes in tax procedures and regulatory requirements were adding to the problems of investors and industrialists.
He emphasised that a fair taxation system, clear laws and effective government oversight were essential for promoting industrial growth, generating employment and creating a business-friendly environment. He urged government departments and representatives of the industrial sector to work jointly on a comprehensive strategy to resolve the problems confronting industrial units.
The legal expert stressed that uniform enforcement of laws, fair tax assessment and adequate legal protection for businesses were vital for sustainable economic development. He called on the FBR to strengthen its registration and monitoring mechanisms while ensuring that industrialists were not burdened with unnecessary procedural requirements.
Other participants observed that linking industrial units’ records with the FBR’s digital system could improve transparency, strengthen tax compliance and help bring more businesses into the documented economy. However, they stressed that the mechanism should be straightforward, transparent and facilitative rather than a source of additional complications for legitimate businesses.
The speakers also highlighted the need for uninterrupted electricity, reliable internet connectivity and other essential infrastructure to support industrial operations. They warned that inconsistent policies, inequitable taxation and excessive regulatory hurdles could force factories to shut down, discourage new investment and aggravate unemployment.
They further called for greater transparency in the issuance of Statutory Regulatory Orders (SROs), urging the authorities to adopt predictable and consistent policies that would enable industrialists to make long-term business decisions with confidence.
The participants maintained that addressing these issues was essential to revitalising the industrial sector in Khyber Pakhtunkhwa. They stressed that a stable regulatory framework, improved infrastructure and constructive cooperation between the government and the business community would help restore investor confidence, protect existing industries, create new employment opportunities and strengthen the provincial economy.
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