FPCCI President Atif Ikram Sheikh calls for phased withdrawal of Super Tax

2026-02-16 - 08:36

LAHORE – Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mr Atif Ikram Sheikh has called for the gradual withdrawal of the Super Tax, saying the levy was originally introduced as a temporary measure but has since become a permanent feature of the taxation system. President Mr Atif Ikram Sheikh stated that the Super Tax under Section 4C was imposed in 2022 as a short-term step. However, over time, it has been absorbed into the regular tax structure. He stressed that it should now be phased out in a planned and structured manner to support businesses. Addressing the FPCCI Conference on Pakistan’s Economic Growth and Stability at the FPCCI Regional Office in Lahore. https://pakobserver.net/wp-content/uploads/2026/02/WhatsApp-Video-2026-02-16-at-13.12.40.mp4 Mr Sheikh also expressed concern over the recent ruling of the Federal Constitutional Court, which could result in the recovery of Rs220–250 billion from businesses. He warned that such a large-scale recovery may trigger liquidity constraints for the corporate sector. To mitigate the financial strain, he proposed that any recovery be collected in installments over a three-year period, along with a 25 per cent upfront discount to reduce pressure on the business community. Highlighting the importance of stable policymaking, the FPCCI president said consistency in economic policies is essential for industrial growth, expansion of businesses and attracting investment. He urged the government to formulate long-term economic strategies spanning 10 to 15 years, supported by clearly defined short- and medium-term goals to ensure sustainable economic progress.