Islamabad (Izhar Khan Niazi) – A meeting of the National Assembly Standing Committee on Finance and Revenue was held at Parliament House, Islamabad, under the chairmanship of Committee Chairman Syed Naveed Qamar. During the meeting, the committee continued its clause-by-clause review of the Finance Bill 2026 and finalized a number of key recommendations.
During the session, the Ministry of Finance, the Federal Board of Revenue (FBR), and other relevant institutions provided detailed briefings on various proposals included in the Finance Bill. The committee thoroughly reviewed proposals related to taxpayer compliance, the penalties framework, the establishment of a Central Data Hub, sharing banking transaction data with the FBR, algorithm-based comparative analysis of financial information, faceless jurisdiction, and the engagement of experts for complex tax audits.
Committee Chairman Syed Naveed Qamar stated that the modernization of tax administration should aim to promote transparency, efficiency, and voluntary tax compliance, while the constitutional safeguards and rights of law-abiding taxpayers must be protected at all costs. He emphasized that any centralized data-sharing system must be based on a strong legal framework, effective oversight, strict privacy principles, and the protection of citizens’ personal information. According to him, technology-driven reforms should increase public trust and create an environment that facilitates taxpayers rather than causing fear and uncertainty.
The meeting also reviewed proposed amendments relating to penalties under tax laws, particularly provisions concerning undisclosed income and assets. Committee members expressed concern that some proposed penalties could place a disproportionate burden on middle-class and law-abiding taxpayers. They suggested that enforcement should be based on a balanced and risk-based approach. The committee stressed that tax enforcement measures must be fair, transparent, and consistent with the principles of justice, while ensuring effective legal action against deliberate tax evasion.
The committee also examined the financial implications of various tax proposals, implementation mechanisms, expected revenues, and their potential impact on business activity, consumers, and the overall economy. Members emphasized that tax policies should promote economic stability, encourage investment, and expand the tax net, while keeping compliance costs as low as possible for small and medium-sized businesses. They also highlighted the need to protect vulnerable segments of society and prevent further inflationary pressures.
Syed Naveed Qamar stated that tax policies should be fair, transparent, predictable, and uniformly applicable across all sectors of the economy. He clarified that sustainable revenue generation should be achieved through the expansion of the tax net rather than by imposing additional burdens on existing taxpayers. Highlighting Parliament’s constitutional role, he said that effective parliamentary oversight of major tax measures is essential for transparency, accountability, and democratic governance.
The committee appreciated the detailed technical briefing provided by the Ministry of Finance and the FBR and directed the relevant institutions to incorporate the committee’s recommendations and observations while finalizing the proposed legislation. The committee also emphasized that all reforms should be implemented in a phased, transparent, and consultative manner, supported by an effective monitoring system and regular reporting to Parliament.
After extensive deliberations, the committee finalized its recommendations on the matters under consideration and directed the Secretariat to include them in the committee’s report on the Finance Bill 2026 for presentation before the National Assembly.
The committee also decided to convene its next meeting on Saturday, June 20, 2026, at 11:30 a.m. for further deliberations on the Finance Bill 2026.
The meeting was attended by Members of the National Assembly including Rana Iradat Sharif Khan, Ali Zahid, Syed Sami-ul-Hassan Gillani, Bilal Farooq Tarrar, Muhammad Usman Owaisi, Zeib Jaffer, Dr. Nafisa Shah, Hina Rabbani Khar, Dr. Sharmila Farooqi, Dr. Mirza Ikhtiar Baig, Muhammad Javed Hanif Khan, Arshad Abdullah Vohra, and Shahida Begum, among others. Federal Minister for Finance, Minister of State for Finance, Secretary Finance, Secretary Aviation, the Director General of the Tax Policy Office, FBR members, and senior officials from other relevant ministries and institutions were also present at the meeting.