Islamabad: The Standing Committee on Finance and Revenue, chaired by Syed Naveed Qamar, has finalized significant amendments to the Finance Bill 2026, emphasizing transparency, accountability, and equitable fiscal policies. The Committee’s recommendations aim to enhance taxpayer protections and promote sustainable economic growth while addressing challenges in Pakistan’s aviation sector through a sector-neutral approach.

According to National Assembly of Pakistan, the Committee’s rigorous examination of the Finance Bill included approving legal safeguards to prevent unjust freezing orders on third-party properties and empowering the Independent Case Scrutiny Committee with technical expertise. The Committee addressed the aviation industry’s structural challenges and proposed extending fiscal concessions to all domestic airlines from July 2027 to foster fair competition.

The Committee also scrutinized the taxation policies on mobile phones, advocating for reduced taxes on entry and mid-range smartphones to support digital inclusion and economic growth. Discussions extended to taxation mechanisms in the steel sector, emphasizing legislative precision and transparency while avoiding excessive administrative discretion.

Throughout the meetings, members received briefings from various government bodies to assess the economic implications of proposed fiscal measures. Chairman Qamar underscored the importance of balancing revenue generation with sustainable growth, advocating for a broad tax base and equitable fiscal policies. The Committee’s recommendations include phased tax reforms and stronger institutional oversight to ensure practical and equitable fiscal measures.

The Committee’s discussions reflected a commitment to transparency, taxpayer rights, and sustainable economic development, with dissent noted on specific policies. The meeting was attended by key government officials and Members of the National Assembly, highlighting the collaborative approach to refining the Finance Bill 2026.