Govt told to renegotiate IMF terms

According to Dawn, a Senate panel was informed on Tuesday that Pakistan plans to wind down Export Processing Zones and Special Economic Zones across the country by 2035. The timeline is tied to Extended Fund Facility conditions set by the IMF, with the aim of placing every sector under one tax framework. The Senate finance and revenue subcommittee then asked the government to reopen talks with the IMF so that the zones are not shut down.

The panel urged that the zones be protected from harm, stressing industrial and investment interests. Exporters and businesses also raised trouble with banking transactions, and the panel suggested insurance guarantees could replace bank guarantees or cheques where permitted. The Federal Board of Revenue said it would examine the matter and resolve it.

Other items on the agenda included facial recognition for taxpayers with faded fingerprints, and the FBR and NADRA were asked to coordinate and act quickly. The committee also heard about viability gap funding for 3,000 EV charging stations and about the SECP's crackdown on illegal share transfers. Power outages were traced to supply disruptions in RLNG shipments, according to the briefing.