Islamabad, June 26, 2025: The National Assembly has officially passed the Federal Budget 2025-26, including major amendments to the Finance Bill 2025, despite strong resistance from opposition members during Thursday’s session chaired by Speaker Ayaz Sadiq.
Tax Fraud Now Punishable by Arrest
One of the most significant updates in the Finance Bill is the inclusion of strict penalties for sales tax fraud. Anyone involved in forgery, fake invoicing, hiding tax evidence, or submitting false returns can now be arrested—provided the fraud exceeds Rs. 50 million. Approval for such arrests must come from a two-member committee comprising the Member Operations and Member Legal. Detainees must be produced before a magistrate within 24 hours.
Carbon Levy on Petroleum Products
Clause No. 3 of the bill introduces a carbon levy of Rs. 2.50 per liter on all petroleum products. This new measure is expected to generate additional revenue while promoting environmental responsibility.
Changes to Parliamentarians’ Salaries and Perks
Amendments to the Salaries and Perks of Members of Parliament Act now give the House Committee full control over determining lawmakers’ benefits. Federal and state ministers will now receive salaries equal to Members of Parliament under the newly added clauses 4A and 4B.
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Customs Act Revised to Prevent Smuggling
A key amendment to the Customs Act 1969 includes the rollout of a digital cargo tracking system. This move aims to electronically monitor all imports, exports, and transit goods to crack down on smuggling and improve transparency in trade logistics.
The Finance Bill 2025 was moved by Finance Minister Muhammad Aurangzeb and was approved clause by clause. Most opposition-backed recommendations for public consultation were rejected during voting.
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