Islamabad: The Senate Standing Committee on Finance and Revenue convened its second consecutive pre-budget consultative session on Thursday at Parliament House, focusing on gathering recommendations from various stakeholders for the Annual Budget 2026-27. Chaired by Senator Saleem Mandiwalla, the session aimed to address key economic, taxation, trade, and industrial concerns ahead of the Finance Bill’s finalization.

According to Senate of Pakistan, the meeting brought together senators, members of the National Assembly, and senior finance ministry officials, along with representatives from trade bodies and industry associations. Discussions covered a wide range of proposals, including taxation reforms, trade facilitation measures, and incentives to enhance industrial growth and export competitiveness.

The Pakistan Poultry Association proposed changes to the sales tax regime and suggested measures to boost women’s corporate participation. The Pakistan Pharmaceutical Manufacturers Association advocated for an increased foreign exchange retention rate and performance-based incentives, while the Pakistan Association of Large Steel Producers called for reforms in tax collection methods.

Recommendations also included reducing withholding taxes, as suggested by the Islamabad Chamber of Commerce, and revising excise duties on sugary products, as discussed by the Fruit Juice Association. The Consumer Association of Pakistan highlighted concerns over rising formula milk prices, and the Telecom Association sought reductions in withholding taxes and exemption from advance tax.

In addition to these, the Construction Association of Pakistan, the Towel Manufacturers Association, and the All Pakistan Textile Mills Association presented sector-specific proposals. The Rice Exporters Association of Pakistan and the Pakistan Ready-Made Garments Manufacturers and Exporters Association also emphasized the need for improved competitiveness in international markets.

The session concluded with the Senate Committee compiling the collective recommendations for consideration by the Ministry of Finance and relevant authorities in the upcoming federal budget formulation.