FBR to Temporarily Shut Down Online Tax Services for Scheduled Maintenance from August 8–10
The Federal Board of Revenue (FBR) has announced a temporary suspension of several of its online tax platforms due to planned system maintenance. The maintenance exercise is aimed at improving the performance and reliability of the digital tax infrastructure, but it will temporarily interrupt access to a number of important services. According to the FBR, […]
FBR Introduces Independent Committees to Improve Tax Litigation
The Federal Board of Revenue (FBR) is moving towards a more structured and responsible approach to tax litigation by proposing the establishment of Independent Case Scrutiny Committees. The initiative, introduced through draft amendments to the Income Tax Rules, 2002 under SRO 1138(I)/2026, follows the provisions of the Finance Act 2026 and is expected to change […]
Pakistan’s Tax Tribunal Backlog Continues to Grow Despite High-Paid Appointments
Pakistan’s efforts to speed up the resolution of tax disputes are under renewed scrutiny after the backlog of cases at the Appellate Tribunal Inland Revenue (ATIR) climbed to nearly 68,000. The increase comes despite the government’s decision to appoint 24 private-sector professionals on market-based salaries reaching as high as Rs2.6 million per month. The appointments […]
Pakistan Misses IMF Circular Debt Target as Power Sector Liabilities Rise to Rs1.835 Trillion
Pakistan’s power sector continues to face serious financial challenges, with circular debt climbing to Rs1.835 trillion by the end of June 2026. The figure is Rs221 billion higher than the ceiling of Rs1.614 trillion agreed under the country’s programmed with the International Monetary Fund (IMF), raising fresh concerns about the pace of energy sector reforms. […]
Pakistan Plans to Market Roosevelt Hotel as US Investors Show Growing Interest
Pakistan is preparing to launch the sale of the Roosevelt Hotel in New York, with the government aiming to take the landmark property to the market by December 2026. The move comes as several US financial institutions have reportedly expressed interest in the high-profile asset, highlighting its strong investment appeal. The update was shared by […]
Pakistan’s Auto Industry Accelerates: Passenger Car Sales Surge 39% in FY2025-26
Pakistan’s automobile industry continued its recovery in FY2025-26, delivering another year of impressive growth as improving economic conditions, affordable financing, and competitive pricing encouraged consumers to return to the market. The latest industry figures show that passenger vehicle demand remained strong, while commercial vehicles and motorcycles also posted healthy gains. Passenger Vehicle Market Shows Strong […]
SBP Sets Ambitious Goal to Expand SME Financing to Rs1.5 Trillion by 2028
The State Bank of Pakistan (SBP) has unveiled an ambitious plan to significantly increase financial support for small and medium-sized enterprises (SMEs), setting a target of Rs1.5 trillion in SME financing by June 2028. The central bank also aims to raise the number of SME borrowers to 750,000, reflecting its commitment to strengthening one of […]
Pakistan and Türkiye Strengthen Economic Partnership with Ambitious $5 Billion Trade Goal
Pakistan and Türkiye have taken another important step toward strengthening their long-standing friendship by placing greater emphasis on economic cooperation. During high-level talks between Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdoğan, both nations reaffirmed their commitment to expanding bilateral trade to $5 billion while exploring new opportunities in investment, technology, defence, and […]
Pakistan’s Foreign Ministry Faces Audit Scrutiny Over Rs9.6 Billion in Financial Irregularities
A recent audit of Pakistan’s Ministry of Foreign Affairs (MoFA) has brought to light financial irregularities amounting to approximately Rs9.6 billion during the fiscal year 2024–25. The audit raises concerns about financial management, procurement practices, budget compliance, and internal oversight, while recommending further inquiries and corrective measures. Billions in Question According to the audit, the […]
Why Pakistan’s Army Is Returning to Locally Grown Wheat
The Economic Coordination Committee (ECC) has approved a significant change in the way wheat is supplied to the Pakistan Army, opting for fresh, locally grown grain instead of the current combination of imported and domestic wheat. The decision reflects growing concerns over food quality while also promising substantial savings for the national exchequer. During a […]
Foreign Investors Deepen Their Commitment to Pakistan Through Rs15 Billion in CSR Initiatives
Corporate social responsibility (CSR) is becoming an increasingly important part of doing business in Pakistan. Beyond creating jobs and contributing to the economy, foreign investors are expanding their efforts to improve healthcare, education, disaster relief, and environmental sustainability across the country. According to the Corporate Social Responsibility Report 2025 released by the Overseas Investors Chamber […]
Punjab Raises Restaurant Sales Tax on Digital Payments to 8% from July 1, 2026
Starting July 1, 2026, restaurant customers in Punjab will see a change in the amount of sales tax they pay when using digital payment methods. Under the new provincial tax policy, the sales tax on eligible digital transactions has increased from 5% to 8%, while the 16% sales tax on cash and other non-digital payments […]
UK Aviation Security Team Visits Pakistan to Review Airport Safety for Direct Flights
A team of aviation security experts from the United Kingdom has arrived in Pakistan to assess security measures at two of the country’s busiest international airports. The visit is part of an ongoing review of safety standards for direct flights operating between Pakistan and the UK. The inspection highlights the importance both countries place on […]
Interior Ministry Faces Highest Number of Audit Observations in AGP Report
The latest audit report by the Auditor General of Pakistan (AGP) has placed the Ministry of Interior and Narcotics Control at the top of the list for audit observations among federal ministries. The comprehensive 399-page report highlights 65 audit objections, raising concerns over financial recoveries, licensing procedures, procurement practices, and administrative compliance. Significant Financial Recoveries […]
FIA Investigates Go Petroleum in Alleged Multi-Billion Rupee Tax and Duty Evasion Case
The Federal Investigation Agency (FIA) has opened an investigation into Go Petroleum and several of its senior officials over allegations of illegally selling bonded petroleum products before clearing the required customs duties, taxes, and petroleum levies. Authorities believe the alleged violations may have caused losses worth billions of rupees to Pakistan’s national treasury. The case […]
Pakistan and Iran Strengthen Transport Links to Boost Trade and Regional Connectivity
Pakistan and Iran have taken an important step toward expanding economic cooperation by agreeing to improve transportation links between the two neighboring countries. Recognizing that efficient transport networks are essential for trade growth, both nations have committed to enhancing road and rail connectivity to facilitate smoother movement of goods across their shared border. The agreement […]
Government’s Ownership in PPL Rises Following Share Transfer
The Government of Pakistan has increased its direct ownership in Pakistan Petroleum Limited (PPL) after a substantial block of shares previously held by an employee trust was transferred to the state. The move has raised the government’s shareholding in the company from 67.51% to 74.86%, strengthening its position as the majority stakeholder. According to a […]
National Assembly Approves Rs40.74 Trillion Charged Expenditure for FY2026-27
The National Assembly has approved charged expenditures totaling Rs40.742 trillion from the Federal Consolidated Fund for the fiscal year ending June 30, 2027. The approval came after a detailed discussion on the allocations presented by Finance Minister Senator Muhammad Aurangzeb. Unlike regular budgetary expenditures, these allocations fall under constitutional provisions that allow lawmakers to debate […]
Islamabad Approves New Vehicle Token Tax Structure to Boost Revenue
Vehicle owners in Islamabad may soon face higher annual token tax payments after a revised taxation framework received approval from the National Assembly Standing Committee on Finance. The new system aims to modernize the existing tax structure and increase government revenue by linking token tax directly to a vehicle’s value rather than relying solely on […]
Pakistan Moves Toward Modern Financial Dispute Resolution System
The Securities and Exchange Commission of Pakistan (SECP) has taken an important step toward improving the country’s financial dispute resolution framework by exploring the establishment of Pakistan’s first Financial Services Dispute Resolution Centre. The initiative was discussed during a stakeholder consultation held in Islamabad, where policymakers, legal experts, regulators, and financial sector representatives gathered to […]