Pakistan’s Federal Board of Revenue (FBR) is considering replacing monthly tax collection targets with a fiscal-year-based performance evaluation system for field formations. The proposed reform, following the Finance Act 2026-27, aims to improve tax administration, enhance efficiency, and shift focus toward long-term revenue performance.

Pakistan’s oil industry has rejected the government’s 18–20% petroleum price cut, calling it a unilateral decision that could cause losses of over Rs105 billion. Industry estimates suggest PSO may lose Rs50 billion, PARCO Rs25 billion, and other firms Rs30 billion. OCAC says Rs104 billion in value has been wiped out on 1.16 million tonnes of fuel stocks. Industry leaders warn that frequent changes in pricing formulas are hurting investor confidence, threatening liquidity, pushing some OMCs toward bankruptcy, and creating risks for Pakistan’s long-term energy security.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met a delegation of the Pakistan Cotton Ginners’ Association (PCGA) to discuss challenges and opportunities in the cotton sector. The delegation highlighted cotton’s vital role in supporting Pakistan’s textile industry, exports, rural employment, and allied businesses. Discussions focused on taxation, documentation, investment, value addition, and improving competitiveness across the supply chain. Aurangzeb assured the delegation that their proposals would be reviewed, emphasizing the government’s commitment to strengthening Pakistan’s cotton ecosystem and boosting economic growth.