Prime Minister Shehbaz Sharif said Pakistan has added more than one million new taxpayers to the system. He also highlighted a strong increase in foreign exchange reserves. He was speaking at the launch of economic governance reforms in Islamabad. Addressing the ceremony with Finance Minister Muhammad Aurangzeb, the prime minister said the economy faced severe […]
tax reforms
IMF reforms are part of Pakistan’s planned agenda
ISLAMABAD – The Ministry of Finance clarified that ongoing reforms under the IMF Extended Fund Facility (EFF) program are not sudden, but a continuation of Pakistan’s previously agreed economic reform agenda. According to the ministry, the Memorandum of Economic and Financial Policies (MEFP) outlines steps proposed by the government at the start of the program. […]
Nestlé outlines major investment boost in Pakistan
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb reaffirmed the government’s commitment to expanding Pakistan’s formal economy during a meeting with a Nestlé Pakistan delegation on Monday. He stressed that improved compliance, transparency, and tax reforms are essential for long-term economic stability as the government continues cracking down on informal markets. The minister highlighted […]
Aurangzeb urges provinces to boost revenue for sustainable growth
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Sunday cautioned against a “gold rush” approach to economic growth, stressing that Pakistan must prioritise sustainable, long-term reforms. He emphasised that both the federation and provinces must enhance their revenue contributions ahead of the crucial National Finance Commission (NFC) meeting on December 4. Read More: PM approves digital ecosystem […]
Pakistan’s weak tax system costs Rs3.4tr: IMF
The International Monetary Fund (IMF) has warned that Pakistan is losing Rs3.4 trillion annually due to tax evasion, corruption, and hidden incomes. The loss equals about 3.9% of the country’s GDP. The Fund called for urgent reforms to expand the tax base and improve accountability. The IMF highlighted severe weaknesses in Pakistan’s tax system, including […]
Pakistan’s economy on right track, says finance minister
ISLAMABAD – Federal Finance Minister Muhammad Aurangzeb on Monday said Pakistan’s economy is stabilizing and reforms across major sectors are paving the way for sustainable growth. He emphasized that global rating agencies have recognized the country’s economic stabilization, adding that IMF staff-level agreements validate this progress. Aurangzeb noted that policy rate reductions have positively impacted […]
PM Shehbaz credits FBR reforms for record rise in tax return filings
ISLAMABAD — Prime Minister Shehbaz Sharif on Saturday linked the filing of 892,419 new tax returns for tax year 2025 to growing public confidence in the government’s reform and digitisation agenda. His statement followed the Federal Board of Revenue’s (FBR) announcement that 5.912 million tax returns were filed for 2025 — up from 5.025 million […]
PM Shehbaz praises record tax filings as FBR revenue soars
Prime Minister Shehbaz Sharif praised Federal Board of Revenue (FBR) officials for a record 5.9 million tax returns filed in FY2025. He said that 900,000 new taxpayers joining the system show strong public trust in government policies. The PM thanked citizens for fulfilling their responsibility and noted that tax reforms are delivering positive results. Sharif […]
Pakistan establishes Tax Policy to strengthen fiscal framework
. ISLAMABAD – The federal government has launched a Tax Policy Office to modernize and streamline Pakistan’s tax framework. To aligning it with conditions set by the International Monetary Fund (IMF). The Finance Ministry confirmed the key appointments for the office have finalized. He also confirmed work will commence next week on tax policies for […]
World Bank Showcases Pakistan’s FBR as Global Model for Public Sector Reform
ISLAMABAD – The World Bank has invited Pakistan’s Federal Board of Revenue (FBR) to present its transformation journey as a global case study in public sector reform during the Annual Meetings held in Washington, D.C. Federal Finance Minister Muhammad Aurangzeb, FBR Chairman Rashid Mahmood Langrial, and other senior officials attended the event. The Finance Minister […]