In a fiery response to the unveiling of the Federal Budget 2025-26, the Karachi Chamber of Commerce and Industry (KCCI) has slammed the government’s fiscal roadmap as nothing more than a “camouflage”—a deceptive mirage shrouding the painful realities and unrealistic ambitions for the coming year.
KCCI leaders did not hold back, calling the budget a masterclass in misdirection that fails to address the burning needs of Pakistan’s industrial backbone and the common citizen.
At a charged press conference held at KCCI, Chairman Businessmen Group (BMG), Zubair Motiwala, led a powerful critique of the budget, saying it offers no real relief to businesses or households, instead drowning them in unachievable targets. “This budget is not a path to recovery, it’s a calculated distraction,” he said. “While dressed in the language of digital reforms and fiscal discipline, the truth is it’s just more burden for less output.”
Motiwala condemned the government for hiking revenue targets without a concrete plan to achieve them—especially in a climate of stagnation, surging inflation, and IMF-imposed restrictions. He warned that these goals, detached from ground realities, would crush documented businesses and paralyze economic momentum rather than generate growth.
The budget, KCCI argues, has weaponized tax policy against the formal sector. Instead of widening the tax net and bringing untaxed segments into the fold, the government has doubled down on squeezing the same, already compliant taxpayers. Motiwala cautioned that this punitive approach will scare away investment and shrink the economic pie, not grow it.
Joined by Vice Chairman Anjum Nisar and President KCCI Muhammad Jawed Bilwani, the KCCI leadership collectively tore into the budget’s lack of vision. They criticized the absence of any real incentives for exporters or manufacturers, calling out the inaction on crucial issues like gas tariffs and energy costs—both of which continue to sabotage Pakistan’s global competitiveness.
Bilwani didn’t mince words either. “This budget might tick IMF boxes, but it offers zero deliverables for real Pakistanis,” he said. “Electricity bills are still sky-high. Inflation is eating through households. Businesses can’t breathe under the weight of energy costs and borrowing rates. Where is the relief?”
He also lambasted the budget’s paltry allocation of Rs1,000 billion for the Public Sector Development Program (PSDP), deeming it laughable in the face of crumbling infrastructure. And for a nation battered by climate disasters, allocating a mere Rs2.783 billion to climate change action was described as “criminal negligence.”
The KCCI leaders highlighted Karachi’s central role in the national economy and demanded that it be supported, not suffocated. Anjum Nisar emphasized the need for a just and transparent tax regime that encourages growth instead of sowing fear.
In conclusion, the KCCI declared that the budget may satisfy international lenders, but it does nothing to fuel exports, energize industry, or ease public suffering. Until the government shifts from camouflage to courage—with real reforms, fair taxation, and business-friendly policies—Pakistan’s economic revival will remain a distant dream.