CM Murad calls pre-budget meeting on June 13
Chief Minister Sindh Syed Murad has called the provincial cabinet's meeting on Friday, June 13, 2025, to discuss the annual budget for the fiscal year 2025-26, as well as supplementary and development expenditures.
According to a notification issued by the Services, General Administration and Coordination Department (Cabinet Section), the meeting, will now be held in the Committee Room of the Chief Minister's Secretariat, Karachi.
The meeting's agenda includes confirmation of minutes from previous cabinet and finance committee meetings, presentation of the annual and supplementary budgets, and discussion of the Annual Development Program (ADP) 2025-26.
Sindh govt to allocate 'substantial budget' for e-taxis, scooters
Key agenda items also include deliberation on the Finance Bill and proposed relief measures, with inputs expected from the heads of departments such as the Board of Revenue, Sindh Revenue Board, Excise, Taxation and Narcotics Control, Local Government, Agriculture, and Irrigation.
The Finance Secretary will present the annual and supplementary budgets, while the Chairman of the Planning and Development Board will lead the briefing on the development programme.
All cabinet members, relevant department secretaries, and senior officials have been requested to ensure their presence and come prepared with working papers and presentations, as per the notification signed by Section Officer (Cabinet) Sarang Ali Shaikh.
The notification also calls on officials to observe formal dress code and notes that 55 sets of documents must be submitted ahead of the session.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
8 hours ago
- Express Tribune
Govt urged to rethink new taxes
Listen to article E-commerce and chain store strategists have demanded the government rationalise the proposed taxes on online and registered businesses in order to maintain the pace of documentation in the retail sector and promote financial inclusion in the economy. They urged the government to refrain from burdening taxpayers with additional taxes and duties to encourage the formalisation of retail and online businesses, which will promote the generation of long-term and sustainable dividends for the economy. They also called on the government to pause the immediate enforcement of these policies, and instead initiate a structured dialogue with stakeholders to co-create pragmatic and growth-friendly tax policies. Pakistan E-Commerce Association (PEA) Karachi Chapter President Shoaib Bhatti said that the proposed tax measures in the financial bill will severely risk the e-commerce sector, disrupting both established and small businesses by imposing an excessive compliance burden all at once. He urged the government to avoid imposing the additional 2% withholding sales tax on e-commerce and retail sectors, which are already paying 18% general sales taxes. In comparison, informal retail segments in major shopping centres and bazaars are not paying taxes at all, he said. Pakistan's e-commerce sector has grown over 35% annually in the past five years, with over 100,000 small online sellers active as of today, supporting the incomes of over a million people nationwide, added Bhatti. Increasing the tax burden on this segment, he said, will be tantamount to slowing down its growth and contribution to the national economy. According to estimates, the total market size of the e-commerce sector is estimated to be Rs2.2 trillion ($7.7 billion), which is still under 2% of the national GDP and up to 4% of the retail segment. Chainstore Association of Pakistan (CAP) Chairman Hasan Javed remarked that the new tax will create an imbalance between documented and undocumented retail and online segments, as one pays an overall 20% GST and the second one will pay merely 2%, hence promoting a cash economy. "Established online and chain stores are already paying 15-16% provincial taxes to the government, and an additional 5% federal levy will increase their cost of doing business. Therefore, we appeal to the provincial government to reduce the tax rate at their end," he remarked. The proposed tax measures place heavier obligations on e-commerce than on the traditional retail and wholesale sectors. Rather than encouraging formalisation, these measures could push businesses back into informality — or out of operation entirely, he said. The Finance Bill introduces multiple taxes and complex procedures across all related businesses, with no stakeholder consultation or phased rollout, which could adversely hit the sector. What's more, a number of e-commerce stores shut down in the past two years due to tough competition among players and higher logistics and operating costs. Saad Shah, CEO Ucaaz, said established e-commerce and chain stores have been highly regulated with tax compliances and equipped with payment systems, however, increasing the burden of tax and levies on these stores will not be favourable for them. He pointed out that various online and chain stores not only offer high-quality branded products to customers, but also offer them handsome discounts on products due to their efficient business models which attract footfall and generate tax revenues for the government, unlike grocery shops in major retail and wholesale markets in big cities. The e-commerce sector is developing a growing and inclusive ecosystem that also generates jobs for the youth, and provides entrepreneurial and investment opportunities for the masses. Disrupting this sector will ultimately hurt all stakeholders, stated Shah.
Business Recorder
12 hours ago
- Business Recorder
Proposed sweeping powers for FBR will cripple economy: PBF
LAHORE: Pakistan Business Forum (PBF) has strongly denounced the Federal Budget 2025; calling it a direct assault on the business community and warning that the sweeping powers proposed for the Federal Board of Revenue (FBR) will cripple the economy and trigger widespread unrest if not immediately reversed. Speaking to the media, Muhammad Naseer Malik, Chairman (Central Punjab) of the PBF, said the Finance Bill introduces a range of unprecedented and undemocratic enforcement clauses that violate the principles of fair taxation and due process. He warned that these proposals will create an environment of fear and intimidation, where businesses operate under constant threat of legal action without the protection of proper checks and balances. PBF highlighted specific provisions of the Finance Bill 2025 that it says are particularly damaging to business confidence and fundamental rights: Section 37AA allows for the arrest of individuals without a warrant, solely on the basis of suspicion of tax fraud, paving the way for arbitrary detentions and harassment. Section 14AE empowers FBR officials to seize business premises and property without judicial oversight or meaningful safeguards. The Section 37B authorizes the detention of businesspersons for up to 14 days, with possible extension by a magistrate, even before the conclusion of an investigation. Further, Section 11E permits FBR to make tax assessments and initiate recovery based purely on suspicion, bypassing the need for a complete inquiry or verifiable evidence. Section 33 (13 & 13A) introduces 10-year prison terms and Rs10 million fines for vaguely defined 'tax fraud,' which the PBF warns could criminalize genuine business errors or disputes. Section 32B grants private auditors quasi-legal authority, allowing them to act with powers that blur the line between auditing and prosecution — a move PBF considers both unconstitutional and dangerous. 'These provisions do not promote tax compliance — they institutionalize fear, harassment, and unchecked power,' Malik said. 'They will push the business community to the edge, and many will be forced to shut down operations or move abroad.' The PBF also criticized the existing tax structure, pointing out that the effective tax burden on businesses has soared to between 50% and 60%, the highest in the region. This includes a 25% corporate tax, 25% tax on dividends, super tax, sales tax, withholding taxes, and high import duties. According to the Forum, these combined pressures make investment, expansion, and job creation impossible under the current fiscal regime. In addition to demanding the complete withdrawal of the above clauses, the PBF is calling for a reduction in interest rates to 6% to support business recovery and economic growth. The Forum believes that a more balanced tax policy - coupled with targeted reforms and incentives - could double public spending on education and health without suffocating the productive economy. Naseer Malik also warned if the Finance Bill 2025 is passed in its current form, Pakistan's economy will face irreversible damage. If the government thinks it can collect taxes without taxpayers, it is free to try. And if the FBR believes it can run an economy without businesses, let it go ahead; the consequences will be clear soon enough.' Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business Recorder
Investment in SCRAs: 12-month holding period proposed for tax concession: FBR chief
ISLAMABAD: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial Saturday said the FBR has proposed a holding period of 12 months for availing concessionary tax regime on investment made in Special Convertible Rupee Accounts (SCRA) under Finance Bill (2025-26). While review of Finance Bill (2025-26) on Saturday at the National Assembly Standing Committee on Finance, Chairman of the Finance Committee Naveed Qamar said that the condition of 'holding period' would discourage investment in the SCRA. The government should set 3-6 months holding period for making investment in the SCRA. The FBR chairman endorsed the viewpoint of Naveed Qamar. The FBR chairman said that we can propose six months holding period. The FBR has already discussed the proposal with the State Bank of Pakistan (SBP). In case of three months proposal, this should be subject to the approval of the Federal Cabinet. FBR directed to immediately stop sealing Tier-1 retail outlets MNA Mirza Ikhtiar Baig stated that the government must watch interest of the overseas Pakistanis making investment in the SCRA. Later, an official of the SBP joined the meeting online from Karachi. Muhammad Ali Malik, executive director SBP informed the committee that the proposed amendment has nothing to do with the Roshan Digital Account. The proposed change is related to the SCRA and not Roshan Digital Account. There should be some limitation of holding period for keeping investment in the SCRAs. We want to discourage short-term investments in the SCRAs. If they keep investment above one year period, the concessional tax regime should be applicable. To avoid volatility in market, the holding period should be one year for the purpose of making investment in the said accounts. The tax advantage should be given to those investors who would keep their investment for at least one year. According to the assessment of the SBP, there would be no immediate or significant impact on investment in case one year holding period is introduced, the SBP official added. The finance committee proposed six months holding period for availing concessionary tax regime on the SCRAs investments. Copyright Business Recorder, 2025
