A nation’s prosperity is not built merely on the abundance of its natural resources or the size of its population; it is built on the ability of its entrepreneurs to establish, operate, expand, and sustain businesses with confidence and ease. Countries that claim to have lifted millions of people out of poverty could do so by creating an enabling business environment where private enterprise flourished, and business aspirants could join the fold with ease. Pakistan ranks 108 among 190 economies in ease of doing business and continues to struggle.

Wealth creation occurs when productive investment is rewarded rather than penalised. Investors, whether domestic or foreign, seek an environment characterised by predictability, transparency, and efficient governance. If regulatory uncertainty increases the cost of investment, capital would naturally flow to destinations where protocols are certain and consistent. Pakistan has precisely experienced this phenomenon. Domestic businesses often prefer investing in real estate or moving capital abroad instead of expanding productive industries because the risks associated with manufacturing and formal business operations have become disproportionately high, and this happens at a high cost for the economy.

Businesses should have confidence that tax policies, investment incentives, and industrial regulations will remain predictable over the medium term and that, in case of business and investment, the transition period should be no less than 10 years.

Businesses should have confidence that tax policies, investment incentives, and industrial regulations will remain predictable over the medium term and that, in case of business and investment, the transition period should be no less than 10 years.

Taxation presents another........

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