SBP Introduces New Licensing Framework for Banks and Financial Institutions
The State Bank of Pakistan (SBP) has introduced a consolidated licensing and authorisation handbook to simplify regulatory requirements for banks, fintech companies and other financial institutions. Issued on October 28, 2026, through BPRD Circular No. 03, the handbook covers commercial banks, digital banks, microfinance banks, exchange companies, electronic money institutions, payment service providers and private […]
FBR Launches Online Auction System for Seized Goods, Sets Rs25,000 Minimum Registration Fee
Pakistan’s Federal Board of Revenue (FBR) has introduced a new electronic auction system for selling seized and confiscated goods, aiming to establish a more transparent and structured process for disposing of such items. Under the revised framework, bidders must pay a minimum one-time registration fee of Rs25,000, while online bidding will remain open for 72 […]
FBR Introduces Mandatory Digital Monitoring for Steel Manufacturers by December 30, 2026
Pakistan’s Federal Board of Revenue (FBR) has introduced a new compliance requirement for the steel industry, directing registered manufacturers to install digital production monitoring systems by December 30, 2026. The initiative aims to strengthen oversight of steel production, improve transparency in product movement and reduce the risk of tax evasion. The directive, issued under Sales […]
Pakistan’s Exporters Call for Better Trade Deals to Compete with India and Bangladesh
Pakistan’s export sector is urging the government to introduce more favorable trade policies and improve access to international markets as businesses struggle with rising production costs, energy prices and growing competition from regional rivals, particularly India and Bangladesh. During a high-level consultation chaired by Federal Commerce Minister Jam Kamal Khan at the Ministry of Commerce, […]
World Bank Proposes $200 Million to Boost KP Tax Revenue and Improve Public Services by 2031
The World Bank has proposed $200 million in financing to help Khyber Pakhtunkhwa (KP) strengthen its revenue collection system, improve public services and manage its finances more effectively. The initiative aims to nearly double the province’s own-source tax revenue in real terms, increasing it from Rs64 billion to Rs122 billion by June 2031. The proposed […]
Foreign Investors Seek FBR Reforms as Tax Certification Delays Stall Share Registration in Pakistan
Pakistan’s efforts to attract and retain foreign investment face another administrative challenge as overseas investors raise concerns over delays in obtaining tax exemption certificates from the Federal Board of Revenue (FBR). The delays are creating obstacles for the registration of foreign-held shares with the State Bank of Pakistan (SBP), even in cases where the relevant […]
FBR Introduces Online Facility for Steel Sector to Report Electricity Consumption
The Federal Board of Revenue (FBR) has introduced a new online mechanism to help steel manufacturers report their electricity consumption for sales tax purposes when power distribution companies fail to provide the required data on time. The facility is particularly relevant to steel melters, re-rollers and composite units, which are required to declare electricity consumption through Annex-K of […]
Pakistan’s Economy Shows Resilience Despite Hormuz Energy Crisis
Pakistan’s economy appears to be weathering the latest regional energy crisis better than many might have expected. Despite the disruption to oil and gas shipments through the Strait of Hormuz and a sharp increase in fuel and transportation costs, economic activity in Pakistan is continuing to expand. According to the World Bank’s October 2026 economic […]
Government Plans Stronger Debt Management Office to Improve Borrowing Strategy
The federal government is taking steps to strengthen Pakistan’s Debt Management Office (DMO) by introducing a dedicated leadership structure aimed at improving the way public borrowing and debt risks are managed. Under the proposed arrangement, the Head of the DMO will play a central role in shaping the government’s borrowing strategy, managing financial risks and […]
FBR Revises Sales Tax Rates for Steel Units in Former FATA and PATA
The Federal Board of Revenue (FBR) has introduced revised electricity-based sales tax rates for steel manufacturing units operating in the former Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA). The changes are aimed at maintaining the special tax treatment available to eligible steel businesses in these areas while setting different rates according […]
Pakistan and the IMF Face Another Tough Round of Talks
Pakistan’s latest discussions with the International Monetary Fund (IMF) have exposed fresh disagreements over energy-sector reforms, fuel subsidies and the country’s growing gas-sector debt. While the government is trying to provide some relief to consumers facing high fuel prices, the IMF is pushing Islamabad toward tighter fiscal controls and more targeted support. At the center […]
Pakistan Sees Sharp Rise in Tax Return Filings as Non-Salaried Sector Drives Growth
Pakistan’s income tax filing base has expanded significantly, with the number of returns submitted to the Federal Board of Revenue (FBR) reaching nearly 5.77 million by September 30, 2026. The latest figures represent a rise of about 45 percent compared with the 3.98 million returns filed during the same period last year. The biggest contribution […]
SBP Extends Bank Working Hours for Tax and Duty Payments
The State Bank of Pakistan (SBP) has announced extended banking hours to make it easier for taxpayers to pay their government duties and taxes before the end of the financial deadline. Under the new arrangement, commercial bank branches across the country will remain open until 10:00 PM on Wednesday, September 30, 2026. The decision was […]
Pakistan Tells IMF FBR Remains on Track to Meet Rs3.053 Trillion Quarterly Tax Target
Pakistan has assured the International Monetary Fund (IMF) that the Federal Board of Revenue (FBR) is still on course to achieve its tax collection target of Rs3.053 trillion for the first quarter of the current fiscal year, despite falling short of its August revenue goal. According to officials familiar with the discussions, the FBR briefed […]
FBR Introduces Faceless Tax System to Transform Audits in Pakistan
Pakistan’s tax administration is set to undergo a significant digital transformation as the Federal Board of Revenue (FBR) moves towards a new faceless system for tax audits and assessments. Under the new arrangement, the FBR has established a National Faceless Centre (NFC) in Islamabad, which will initially focus on reviewing tax-related information of hundreds of […]
Pakistan Prepares for 174 Legal Reforms Under IMF Programmed
Pakistan is preparing for a major round of legislative and policy reforms as part of its ongoing agreements with the International Monetary Fund (IMF). The government is expected to present a package involving around 174 amendments to existing laws, covering areas ranging from state-owned enterprises and energy to remittances, taxation and climate-related measures. The proposed […]
SBP Completes First Regulatory Sandbox Tests, Opening New Path for Fintech Innovation
The State Bank of Pakistan (SBP) has reached an important milestone in its efforts to encourage financial technology innovation, completing the first testing cycle of its Regulatory Sandbox. The six-month programmed, conducted from January through June 2026, gave selected financial-sector participants an opportunity to test technology-driven solutions in a controlled environment under the supervision and […]
Pakistan Expands Tax Relief for Airlines and Shipping Industry
Pakistan’s aviation and maritime sectors have received a significant tax boost as the Federal Board of Revenue (FBR) has broadened sales tax exemptions for airlines and restored similar relief for certain shipping-related imports. The latest measures are aimed at reducing the financial burden on businesses involved in aviation and shipbuilding while also bringing changes to […]
FBR Introduces Rs80 Per Litre FED on Three Petroleum Products
The Federal Board of Revenue (FBR) has introduced a new Federal Excise Duty (FED) of Rs80 per litre on three petroleum-related products, effective from July 1, 2026. The move has been introduced under amendments made through the Finance Act 2026 and is primarily aimed at preventing the misuse and adulteration of petroleum products. The new […]
SBP Earnings Slide 20% to Rs1.99 Trillion in FY26 Amid Lower Interest Income
The State Bank of Pakistan (SBP) ended fiscal year 2025-26 with a substantial but lower profit, as falling earnings from its financial assets weighed on its overall income. The central bank reported a net profit of Rs1.99 trillion for FY26, down from Rs2.499 trillion a year earlier. The decline of roughly Rs506 billion represents a […]