Chaired by Federal Finance Minister Senator Muhammad Aurangzeb at the Finance Division, the meeting brought together federal and provincial representatives to align strategies under the National Fiscal Pact. This agreement, signed between the federation and provinces, prioritizes harmonized tax policies to unlock the full potential of key sectors like real estate and agriculture.
The NTC unanimously emphasized the urgency of enacting provincial agriculture income tax laws. Punjab has already implemented the legislation, while Khyber Pakhtunkhwa and Balochistan have seen cabinet-level approvals, pending placement in their respective assemblies. Sindh is in the advanced stages of finalizing amendments to its tax framework.
High-ranking officials, including Minister of State Ali Parvez Malik, provincial finance ministers, the FBR chairman, and representatives from the World Bank, attended the session. Discussions focused on aligning provincial tax measures with federal objectives and leveraging technology to modernize the tax system.
Key agenda items included:
- Data Sharing and Digitization: Developing robust data exchange mechanisms between the Federal Board of Revenue (FBR) and provincial authorities to streamline tax collection using digital tools.
- GST Harmonization: Advancing a unified General Sales Tax (GST) platform to improve efficiency and reduce redundancies across provinces.
- Reforming Provincial Taxes: Strengthening laws on agricultural income and property taxation to broaden the tax net and address evasion challenges.
- Broader GST Framework: Transitioning GST on services to a broader base in line with global standards to enhance transparency and simplify administration.
Senator Aurangzeb reiterated the government’s resolve to foster intergovernmental collaboration for a unified tax structure that ensures fiscal sustainability and equitable growth. The NTC stressed the importance of capacity building and active stakeholder participation to achieve meaningful progress.
The meeting concluded with actionable directives to expedite the reforms and ensure timely implementation, aiming to bolster provincial revenues and support national fiscal objectives.
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