Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to implement a faceless, technology-driven customs inspection and valuation system aimed at curbing corruption, facilitating trade, and improving revenue collection. Chairing a meeting on Tuesday to review ongoing reforms in customs assessment and inspection, the prime minister stressed the need to align the system wi
The Awami National Party has rejected the terms of reference for the 11th National Finance Commission, declaring them against the financial rights of provinces. In a statement issued here on Tuesday, ANP provincial president Mian Iftikhar Hussain said the move was an attempt to undermine the financial autonomy of the provinces granted under the 18th Amendment. He said the new NFC ToRs were n
Outstanding auto loans rose to Rs285.6 billion in July, up from Rs276.6bn in June, marking the eighth consecutive month of growth, according to data released by the State Bank of Pakistan (SBP). While the trend is positive, the current level remains well below the all-time high of Rs368bn recorded in June 2022. Industry experts attribute the uptick in auto financing to improved consumer sentim
The Public Accounts Committee (PAC) on Tuesday expressed shock over reports that the chairman of the Securities and Exchange Commission of Pakistan (SECP) was drawing an annual salary of Rs41 million. PAC Chairman Junaid Akbar Khan questioned how a country facing economic hardships could afford such packages. “Is the board free to fix salaries at its own discretion without seeking a
The State Bank of Pakistan (SBP) on Tuesday disclosed that it purchased $7.8 billion from the open market since June 2024, raising the country’s foreign exchange reserves to $14.5bn by end-June 2025 — a move aimed at ensuring external stability but one that could otherwise have strengthened the rupee and boosted imports. Testifying before the National Assembly’s Standing Committee on Finance an