EPBD Shadow Budget Proposes Raising Exports to $80 Billion, Increasing Defense Budget by 35%
Karachi: The Economic Policy and Business Development (EPBD) think tank has unveiled its shadow budget, proposing a major economic overhaul that includes increasing Pakistan’s exports from $30 billion to $80 billion, expanding the tax base to 100 million taxpayers, and raising the defense budget by 35 percent.
Speaking on the occasion, SM Tanveer, head of the United Business Group, said the think tank comprises experienced industrialists, technocrats, and economists who conducted a comprehensive review of the national economy over the past two months.
He stated that the group presented a shadow budget, shadow economic survey, tax policy and administration reforms, and a five-year economic development plan aimed at putting Pakistan on a sustainable growth path.
According to SM Tanveer, the proposed framework is not merely a set of recommendations but a “complete, integrated, and practical alternative economic roadmap” designed to guide the country toward economic recovery and long-term stability.
The proposed plan seeks to raise Pakistan’s GDP growth rate to 8.5 percent over the next five years and increase per capita income from $1,900 to $2,900.
Among the key proposals are reducing the General Sales Tax (GST) from 18 percent to 15 percent and lowering the maximum tax rate for salaried individuals from 35 percent to 20 percent.
The shadow budget also recommends lowering interest rates and the value of the US dollar, eliminating the country’s $40 billion trade deficit, increasing pensions by 23 percent, and simplifying tax return forms to a single-page format.
SM Tanveer said the framework includes practical industrial relief measures, a detailed export enhancement strategy, plans for economic documentation, and revenue-neutral growth reforms within a unified policy structure.
