The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, convened on Wednesday to discuss key issues related to tax administration and financial legislation. The meeting focused on improving oversight and ensuring compliance with existing laws.
One of the main topics was the non-implementation of the Presidential Order dated 16th July 2025. Committee members were informed that the issue involves the classification of goods and the jurisdiction of the Federal Tax Ombudsman (FTO). Members emphasized that the Ombudsman’s office is intended to provide a final appellate mechanism. They noted that challenging its decisions could undermine this function. A legal opinion from the Attorney General will be presented to help resolve the matter.
The committee also addressed concerns raised by Senator Dr. Afnan Ullah Khan regarding allegations of harassment of senators by the Federal Board of Revenue (FBR). Senator Mandviwalla advised waiting for the outcome of the appeal pending in the relevant forum. The committee stressed that impartiality must be maintained in tax administration and that state institutions should not be used for political victimization.
Another key topic was the Virtual Assets Bill, 2025. Members were briefed on the Bill’s objective to establish a regulatory framework for virtual assets in line with international best practices. The framework aims to prevent misuse while promoting innovation and economic participation, particularly for youth. Senators discussed aligning the Bill with Pakistan’s national priorities, addressing consumer protection, clarifying regulatory overlaps, and defining the obligations of licensees. The committee decided that further deliberations on the Bill would continue in the next session.
The meeting was attended by Senators Abdul Qadir, Dr. Afnan Ullah Khan, Sherry Rehman, Faisal Vawda, Dilawar Khan, Farooq Hamid Naek, Ahmed Khan, the Finance Minister, Attorney General of Pakistan, Federal Secretary of Law and Justice, and senior officials from relevant departments.
The committee’s discussions highlighted the importance of strengthening tax administration, financial legislation, and regulatory frameworks to ensure transparency, fairness, and economic growth in Pakistan.
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