ISLAMABAD: Advisor to the Federal Minister for Finance and Revenue outlined Pakistan’s improving macroeconomic outlook, the government’s structural reform agenda, key priorities of the FY2026-27 Budget, and the rollout of the country’s New Tax Operating Model (NTOM).
The advisor was addressing the four-day National Tax Seminar, jointly organized by the Pakistan Tax Bar Association (PTBA) and the Lahore Tax Bar Association (LTBA) at Murree.
Schehzad said Pakistan had made significant progress in restoring macroeconomic stability through prudent fiscal management and the implementation of difficult but necessary structural reforms.
He noted that improving fiscal discipline, rebuilding external buffers, strengthening debt management and restoring investor confidence have enabled the country to transition from stabilization towards sustainable, private sector-led economic growth.
He said these reforms are increasingly being recognized through improved sovereign credit ratings, successful IMF programme reviews, renewed access to international capital markets, growing investor confidence and positive assessments by international financial institutions, reflecting the strengthening fundamentals of Pakistan’s economy.
The advisor said the budget for fiscal year 2026-27 was a balanced, responsible and pro-growth budget that supports investment, exports, industrial development and employment while maintaining fiscal discipline.
He noted that the budget provides meaningful relief to the salaried class, introduces measures to enhance business competitiveness and support exporters, advances tariff reforms, encourages documentation of the economy and reinforces the government’s commitment to broadening the tax base rather than placing additional burden on existing compliant taxpayers.
He also highlighted the reform agenda encompassing tax administration, public debt management, privatization, state-owned enterprises, pension reforms, energy sector reforms, Digital Pakistan initiatives, capital market development and improved access to finance, noting that these reforms are strengthening institutions, improving governance, enhancing productivity and creating a more competitive and investment-friendly economy.
He said also spoke about the New Tax Operating Model, which represents a structural shift from an officer-driven system towards a data-led, technology-enabled, faceless and accountable tax administration.
He explained that the reform separates audit, assessment and field operations into specialized functions while leveraging digital technologies, centralized data analytics and risk-based compliance to reduce discretion, minimize physical interaction, strengthen taxpayer rights and improve transparency, consistency and efficiency in tax administration.
Dr. Nadeem Ul Haque delivered the keynote address on tax policy reforms, while FCA Muhammad Rehan Siddiqui presented on faceless jurisdiction and the digitalization of tax administration. n
Speaking on the occasion, President, Pakistan Tax Bar Association, Ehsan-ul-Haq Sheikh; President, Lahore Tax Bar Association, Rana Saqib Munir; and Patron, Pakistan Tax Bar Association and Chairman, Pakistan Tax Bar Academy, Abdul Qadir Memon, appreciated the government’s continued engagement with the tax community and reaffirmed their commitment to constructive dialogue for developing a simpler, more transparent, technology-driven and business-friendly tax system.
