Pakistan, April 29 -- The Overseas Investors Chamber of Commerce and Industry (OICCI) has submitted budget proposals to the government for fiscal year 2025-26. They have urged the government to raise the income exemption limit from Rs 600,000 to Rs 1.2 million annually. This change would benefit individuals with lower incomes by increasing their tax-free earnings.

In addition, the OICCI has suggested reducing the sales tax on goods from 18% to 17%, with an annual reduction to 15%. This proposal aims to ease the financial burden on consumers and align with regional tax averages. The Chamber also requested the government to gradually remove the super tax over the next three years.

The OICCI emphasized the importance of reforms to improve ...