Speaking at a Pre-Budget Seminar organized by the Centre for Economic Planning and Development at Minhaj University Lahore, in collaboration with the Public Traders Alliance and Pakistan Economic Forum, the speakers emphasized the need to reduce non-development expenditures and increase development allocations in the upcoming budget. They also proposed making bank loans more accessible for SMEs (Small and Medium Enterprises).
Former Punjab Finance Minister and Chairman Board of Directors NFC, Tanveer Ashraf Kaira, stressed the importance of transparency and financial discipline in the budgeting process. He urged the government to cut unnecessary expenses and focus on development projects, particularly addressing poverty, unemployment, and inflation. He called for a re-evaluation of the state's financial priorities.
Mian Anjum Nisar, Vice President of the SAARC Chamber of Commerce and Industry, stated that economic growth is impossible without a conducive environment for businesses. He emphasized the need for a simple and transparent tax system to expand the tax net. He also urged the government to undertake structural reforms to boost exports and incorporate private sector consultation in the budget process.
Renowned economist Dr. Ali Hassan called for data-driven and research-based decision-making in budget formation. He urged for prioritizing investments in science, technology, and innovation, and ensuring that economic policies are rooted in public welfare principles. He also highlighted the importance of focusing on soft indicators in budget planning.
Dr. Muhammad Afzal, a member of Pakistan Economics Frontier, recommended that the development budget should not be limited to mega projects but also support rural economies, agriculture, and small businesses.
Prominent analyst Habib Akram stressed that the government must communicate economic policies in a clear and understandable manner to the public. He noted the key role of journalism and economics in raising public awareness.
Business leader and PIAF Chairman Faheem-ur-Rehman Sehgal emphasized the importance of public dialogue along with parliamentary discussion on the budget. He advocated for fair resource distribution and reinforcing the concept of a welfare state. “The budget must reflect social justice to eliminate uncertainty,” he said.
Khalid Usman, Vice President of the Lahore Chamber of Commerce and Industry, reiterated the need to ease access to bank loans for small traders and SMEs, which would stimulate business activity and generate employment.
Senior journalist Hamid Waleed also addressed the seminar, offering budget-related suggestions.
The event began with welcoming remarks by Haji Muhammad Ishaq, Chairman of the Public Traders Alliance, along with Secretary General Rashid Chaudhry and Shehzad Rasool. Special guests included Chairman FRIA Shahbaz Aslam, Vice Chairman Asif Chaudhry, Suhail Ahmad Raza, Shehzad Khan, and others.
Registrar of Minhaj University, Dr. Khurram Shahzad, thanked the guest speakers and presented pre-budget recommendations, emphasizing the need for economic justice and prioritizing research and innovation in the financial sector.
The seminar was attended by renowned economists, industrialists, business leaders, and social figures. Speakers urged the government to focus the budget on economic improvement, inflation control, and relief for the middle class. Participants offered numerous constructive suggestions.
The event concluded with Vice Chancellor Prof. Dr. Sajid Mahmood Shahzad presenting shields to the guest speakers. A large number of faculty members, deans of various departments, and students of Minhaj University also participated in the seminar.
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