LCCI hails Punjab govt for presenting growth-oriented budget

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has appreciated the Punjab government for presenting a growth-oriented, development-focused and infrastructure-driven provincial budget 2026-27. In a statement, LCCI President Faheem Ur Rehman Saigol said that the proposed Annual Development Programme reflects a strong commitment towards infrastructure development, connectivity, urban services, irrigation, and public welfare projects. They stated that the infrastructure allocation will significantly contribute to improving roads, bridges, transport systems, and other basic facilities, thereby strengthening economic activity across the province. LCCI President observed that enhanced development spending is expected to provide a positive boost to key industries including construction, cement, steel, engineering, and allied sectors, while also generating new employment opportunities for the people of Punjab. However, he emphasized the importance of timely utilization of development funds and efficient completion of projects to ensure maximum impact. Senior Vice President LCCI Tanveer Ahmed Sheikh and Vice President Khurram Lodhi also appreciated the government’s efforts to improve revenue generation, highlighting the ambitious provincial tax revenue target of Rs. 748 billion. They acknowledged that strengthening the tax base through services, property, motor vehicle taxes, and other sources reflects a move towards greater fiscal stability. The LCCI urged the government to focus on documentation of the economy and facilitation of taxpayers to ensure sustainable revenue growth. The LCCI President further said that the projected budget surplus reflects a positive fiscal outlook for the province. However, he urged that surplus resources should be strategically reinvested into productive sectors such as industry, agriculture, SMEs, IT, education, and healthcare to ensure inclusive and long-term economic growth. Copyright Business Recorder, 2026

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