Aftab Maken ISLAMABAD: Pakistan is set to see a significant shift in its automotive market and public finance management, following key approvals from the Ministry of Commerce and the Senate Standing Committee on Finance. Starting September 2025, the commercial import of used cars will officially be permitted, marking a new …
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Aftab Maken ISLAMABAD: Pakistan is poised to significantly enhance its energy cooperation with Russia, following a high-level meeting between a Pakistani delegation led by Federal Minister for Petroleum, Ali Pervaiz Malik, and representatives of Gazprom, Russia’s leading oil and gas giant. The discussions, which included Sergey Tumanov, General Director of …
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Aftab Maken ISLAMABAD: The government has decided to tighten the noose around individuals and businesses not registered with the Federal Board of Revenue (FBR). The proposed actions include banning such persons from operating bank accounts and disconnecting their electricity and gas connections. However, the National Assembly’s Standing Committee on Finance …
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Aftab Maken ISLAMABAD: The Senate Standing Committee on Finance has rejected key proposals in the finance bill 2025-26 which include a Rs 2.50 per liter carbon levy on petroleum products, the removal of the 10% debt servicing surcharge cap on electricity users, and the imposition of a levy on small …
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Aftab Maken ISLAMABAD: The federal government has formally initiated a competitive and open process for the appointment of a new Chairman for the Higher Education Commission (HEC). This decision unequivocally puts an end to any further extensions for the current chairperson, Dr. Mukhtar Ahmed, whose tenure has been a subject …
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Aftab Maken ISLAMABAD: The Privatisation Commission Board has approved a series of strategic decisions aimed at expanding private sector involvement in Pakistan’s power sector. The decisions were taken during the 235th meeting of the Privatisation Commission (PC) Board held on Wednesday, June 18, at the PC Headquarters in Islamabad. The …
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Aftab Maken ISLAMABAD: The Ministry of Finance has finalized a syndicated term finance facility of USD 1 billion. The landmark financing agreement, backed partially by a Policy-Based Guarantee from the Asian Development Bank (ADB), comes under ADB’s flagship reform program titled “Improved Resource Mobilization & Utilisation Reform”, aimed at enhancing …
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Aftab Maken ISLAMABAD: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial presented a list of sugar mills allegedly involved in billions of rupees worth of tax fraud to the National Assembly’s Standing Committee on Finance. According to reliable sources, the owners of these sugar mills include prominent political and …
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Aftab Maken ISLAMABAD: The Federal Board of Revenue (FBR) is proposing stringent measures, including requiring FBR approval for future stock market investments by all, and outright barring non-filers from stock market participation. These proposals, discussed during a recent meeting of the Senate Standing Committee on Finance chaired by Senator Saleem …
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Aftab Maken ISLAMABAD: As part of broader tax reform measures under Budget 2025-26, Federal Finance Minister Muhammad Aurangzeb announced that the government is introducing stricter controls on tax fraud involving fake invoices and tampered records, with arrest powers granted in fraud cases exceeding Rs 50 million. Briefing the Senate Standing …
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