Aftab Maken The Senate finance committee saw heated debate as FBR confirmed AI-powered monitoring in sugar, cement and other key sectors, while lawmakers also moved to summon banks over excessive profit under Islamic banking. Federal Board of Revenue (FBR) has decided to install AI-based video analytics systems across 17 major …
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BeNewz Report Senate Finance Committee warns proposed laws could stifle virtual currency trade and urges curbs on discretionary powers of new regulatory authority. The Senate Standing Committee on Finance has voiced strong reservations over proposed regulations for establishing and supervising cryptocurrency exchanges in Pakistan, warning that strict conditions could make …
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Aftab Maken ISLAMABAD: The National Assembly’s Standing Committee on Finance convened today, reiterating its firm stance against government intervention in the sugar trade and urging a hands-off approach to pricing and imports. The committee meeting also highlighted ongoing discussions with the International Monetary Fund (IMF) regarding controversial tax exemptions on …
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Aftab Maken ISLAMABAD: The Senate Standing Committee on Finance has recommended a 50% increase in government employees’ salaries, a 20% rise in pensions for retired public servants, and fixing the minimum monthly wage at Rs 50,000. The panel also proposed increasing the Employees’ Old-Age Benefits Institution (EOBI) pension to Rs …
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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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Aftab Maken ISLAMABAD: The Senate Standing Committee on Finance on Sunday rejected the Federal Board of Revenue’s (FBR) proposal to impose a 10-year jail term for individuals involved in tax fraud. Members of the committee expressed serious reservations over the severity of the suggested punishment. The meeting, chaired by Senator …
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National Assembly Standing Committee on Finance on Friday deliberated on the Federal Board of Revenue’s (FBR) request for expanded powers aimed at addressing significant tax evasion in major sectors. FBR Chairman Rashid Langrial briefed the committee, pointing out that while the FBR holds monitoring authority under sales tax regulations, it …
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The Senate Standing Committee on Finance has approved the Income Tax Amendment Bill 2025. During the meeting, the committee was informed that the tax rate on banks’ profits has been increased from 39% to 42%, in addition to a super tax on banks’ income. The session, chaired by Senator Saleem …
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Aftab Maken The Senate Standing Committee on Finance has voiced strong disapproval of the Federal Board of Revenue’s (FBR) decision to purchase over 1,000 vehicles worth billions of rupees. During a meeting chaired by Senator Saleem Mandviwalla, the committee criticized the procurement and recommended halting it immediately. The controversy began …
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