Budget 2026-27: Pakistan Pursues Higher Tax Revenue While Introducing Relief for Workers and Investors
Pakistan’s federal government has outlined an ambitious fiscal strategy for the upcoming financial year, aiming to significantly increase tax revenues while offering targeted incentives to salaried individuals, businesses, and the real estate sector. The Finance Bill 2026-27 presents a mix of stricter tax enforcement measures and selective tax reductions, reflecting the government’s effort to strengthen […]
PTBA Seeks Greater Clarity on Government’s Proposed Fixed Tax Scheme for Small Traders
The proposed Fixed Tax Scheme (FTS) for small traders, unveiled by Finance Minister Muhammad Aurangzeb, has sparked discussion within Pakistan’s tax community. While the initiative has been welcomed as a step toward expanding the country’s tax net and encouraging undocumented businesses to enter the formal economy, tax experts believe several aspects of the plan require […]
Pakistan Considers Higher Taxes on Imported EVs While Supporting Local Hybrid Production
Pakistan’s automotive sector could see another major policy shift as the federal government reportedly weighs new taxation measures for electric vehicles (EVs) in the upcoming fiscal year 2026-27. According to media reports, authorities are considering imposing a sales tax of up to 25% on imported electric vehicles, while maintaining existing tax incentives for locally manufactured […]
NEC Convenes to Shape Pakistan’s Economic Agenda Ahead of Budget Announcement
Pakistan’s economic planning process entered a crucial phase on Wednesday as the National Economic Council (NEC) met under the chairmanship of Prime Minister Muhammad Shehbaz Sharif to discuss the country’s development priorities and economic goals for the upcoming fiscal year. The meeting, which had been delayed multiple times over the past few weeks, brings together […]
Pakistan Moves Toward Duty-Free Defence Imports from July 2026
Pakistan is preparing to introduce a major policy change that could reduce the cost of defense procurement by eliminating customs duties on military imports. The proposal, recently endorsed by the Tariff Policy Board (TPB), aims to exempt defense-related imports from the existing 15 percent customs duty beginning July 1, 2026. The recommendation follows directions issued […]
FBR Reshuffles Senior Leadership to Boost Tax Collection and Reform Efforts
As Pakistan prepares for another challenging fiscal year, the Federal Board of Revenue (FBR) has taken a significant administrative step by assigning additional responsibilities to 27 senior Inland Revenue Service officers. The move is aimed at strengthening tax administration, improving operational efficiency, and supporting the country’s revenue collection goals. The temporary appointments come at a […]
Pakistan Seeks IMF Approval for Tax Relief as Budget 2026-27 Takes Shape
As Pakistan prepares to unveil its federal budget for the fiscal year 2026-27, crucial discussions with the International Monetary Fund (IMF) are underway. The government is attempting to strike a balance between providing tax relief to citizens and businesses while meeting ambitious revenue targets set for the coming year. The Federal Board of Revenue (FBR) […]
SECP Cracks Down on State-Owned Enterprises Over Reporting and Governance Lapses
The Securities and Exchange Commission of Pakistan (SECP) has intensified its regulatory oversight of state-owned enterprises (SOEs), imposing fines and issuing warnings against organizations that failed to comply with legal reporting and governance requirements. The latest enforcement action resulted in penalties totaling Rs3.175 million against 36 state-owned entities. The fines were issued through 46 adjudication […]
Punjab Recovers State Land Worth Rs433 Billion in Major Anti-Encroachment Drive
In a significant step toward protecting public assets, the National Accountability Bureau (NAB) and the Punjab Board of Revenue have successfully reclaimed thousands of kanals of government-owned land that had been under illegal occupation. The recovered land, spread across various districts of Punjab, is estimated to be worth around Rs433 billion. The large-scale recovery campaign […]
ECC Reviews Multi-Billion Rupee Funding Proposals Ahead of Federal Budget
As Pakistan moves closer to unveiling its federal budget, the government has scheduled an important meeting of the Economic Coordination Committee (ECC) to evaluate a series of funding requests, development projects, and supplementary grants involving billions of rupees. The meeting comes at a crucial time when policymakers are finalizing fiscal priorities and determining resource allocation […]
Pakistan Needs Growth-Oriented Reforms, Not More Pressure on Taxpayers
As Pakistan prepares to unveil its upcoming federal budget, the debate over taxation and economic reforms has once again come into focus. Business leaders are urging policymakers to avoid placing additional financial burdens on already compliant taxpayers and instead focus on expanding the country’s tax net and encouraging economic growth. The Pakistan Business Forum (PBF) […]
SECP Introduces IPO Reforms to Open Capital Markets for More Businesses
The Securities and Exchange Commission of Pakistan (SECP) has unveiled a set of regulatory changes aimed at making it easier for established businesses to enter the capital market and raise funds through Initial Public Offerings (IPOs). The amendments, made to the Public Offering Regulations, 2017, are expected to provide greater opportunities for businesses that have […]
Federal Government Assigns Two PAS Officers to OGRA on Deputation
The federal government has appointed two officers from the Pakistan Administrative Service (PAS) to the Oil and Gas Regulatory Authority (OGRA) on deputation, reinforcing the regulator’s administrative capacity in overseeing Pakistan’s energy sector. According to official notifications issued by the Establishment Division, BS-20 officer Majid Mohsin Panhwar and BS-18 officer Flt. Lt. (Retd.) Imran Ali […]
Pakistan Refineries Boost Output, but Weak Fuel Demand Creates Inventory Pressure
Pakistan’s refining sector witnessed a significant increase in production during May 2026, yet fuel sales failed to keep pace, highlighting growing demand-side challenges for the industry. According to industry data, refinery production climbed by 22.5% year-on-year to 1.01 million tonnes in May. The increase was driven by stronger output across key petroleum products, including diesel, […]
Pakistan Approves Furnace Oil Exports as Refineries Tackle Rising Inventories
Pakistan’s energy regulators have authorized the export of a significant volume of furnace oil, providing relief to domestic refineries grappling with growing stockpiles and changing energy consumption patterns. The Oil and Gas Regulatory Authority (OGRA) has granted permission to Pak Arab Refinery Limited (PARCO) to export 100,000 metric tones of furnace oil during June 2026. […]
Pakistan Eyes Higher Economic Growth, But Faces Tough Choices on Development Spending
Pakistan’s economy is expected to continue its recovery journey in the upcoming fiscal year, with the government projecting economic growth of 3.7% in FY2025-26. However, despite the positive outlook, authorities are grappling with a significant challenge: limited financial resources against a growing list of development priorities. Speaking at the Annual Plan Coordination Committee (APCC) meeting, […]
ATCO Laboratories Achieves Major Milestone with PIC/S Certification for Sterile Manufacturing Facility
Pakistan’s pharmaceutical industry has reached an important milestone as ATCO Laboratories Group becomes the first company in the country to secure PIC/S certification for a sterile manufacturing facility producing injectable medicines and ophthalmic products. The achievement marks a significant step forward for the local pharmaceutical sector and strengthens Pakistan’s position in the global healthcare market. […]
Pakistan’s Auditor General Revamps Audit Reporting After Major Financial Figure Controversy
The Auditor General of Pakistan (AGP) has introduced a new system for preparing annual audit reports after last year’s controversy involving the publication of alleged financial irregularities worth Rs375 trillion. The incident sparked nationwide criticism and raised concerns about the credibility of the country’s audit process. To prevent similar situations in the future, the AGP […]
Government Plans EFS Reforms to Stop Tax Abuse and Protect Formal Industries
The federal government is preparing possible reforms to the Export Facilitation Scheme (EFS) as part of the upcoming FY2026-27 budget, aiming to tackle the alleged misuse of tax exemptions and invoice trading in local markets. Officials are reviewing several proposals designed to improve transparency, strengthen tax collection, and support documented industries that claim they are […]
Pakistan Pushes for Greater Trade Access in New China FTA Talks
Pakistan is preparing to request major trade concessions from China as discussions begin on the third phase of the China-Pakistan Free Trade Agreement (CPFTA). The move is part of Islamabad’s broader strategy to boost exports, reduce its growing trade deficit, and secure better market access for Pakistani industries. According to reports, Pakistani officials are expected […]