Published on, Aug. 18 -- August 18, 2025 3:31 PM

Islamabad: In a major policy shift, Finance Minister Muhammad Aurangzeb announced that the Federal Board of Revenue (FBR) will no longer oversee Pakistan's tax policy or budget preparation. Instead, these critical responsibilities now fall under the Finance Division, marking a significant restructuring of fiscal governance.

Speaking at a workshop titled "Unlocking Capital Market Potential for Banks", organized by SECP and PBA, the minister confirmed that the next federal budget for FY2026-27 will be presented by the Finance Division's tax policy office. "The FBR has nothing to do with it," Aurangzeb emphasized, indicating a complete separation of tax policy from tax administration.

He al...