The Punjab government has proposed a revised sales tax structure for restaurants under the Punjab Finance Bill 2026, introducing higher rates on digitally processed payments. Under the proposed framework, transactions made through debit cards, credit cards, mobile wallets, and QR codes will be subject to an 8% sales tax, up from the existing 5%. In contrast, payments made through other methods will attract a 16% sales tax. The proposal is aimed at increasing provincial revenue while encouraging greater use of formal digital payment channels, which authorities believe will improve documentation and compliance in the restaurant sector.
Concerns over a possible monopoly in Pakistan’s automobile industry were raised during a meeting of the Senate Standing Committee on Finance, where Senator Faisal Vawda alleged that a small group of companies benefits disproportionately from the existing regulatory framework. The meeting, chaired by Senator Saleem Mandviwalla, reviewed issues related to vehicle safety standards, regulatory oversight, and institutional jurisdiction in the auto sector. Vawda questioned the policy structure, claiming it enables a limited number of firms to dominate the market while creating inefficiencies and financial losses. Committee members also discussed overlapping regulatory roles between ministries, particularly in relation to vehicle inspection and safety standards. Officials noted that responsibilities have shifted between the Ministry of Industries and Production and the Ministry of Science and Technology over time, while the legal framework is still being finalized and requires parliamentary approval. The committee agreed to revisit the matter to establish a clearer regulatory structure.
The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, has recommended that the government withdraw a notification issued by the Engineering Development Board (EDB) regarding the import of commercial vehicles, citing concerns over its impact on business activity and government revenue. During the meeting, lawmakers discussed vehicle import regulations, safety standards, and alleged revenue losses. Senator Vawda clarified that his remarks were not intended to target individuals but raised concerns over revenue performance and policy implementation delays. Officials from the Ministry of Industries and Production stated that the automotive sector has traditionally been regulated by the Engineering Development Board, which oversees vehicle standards and approvals, and that safety rules apply equally to local and imported vehicles. The committee was also informed that international financial institutions have advised avoiding unnecessary import restrictions while maintaining safety compliance. Vawda claimed that policy delays have resulted in significant revenue losses, while officials acknowledged gaps in infrastructure and enforcement capacity. After detailed discussion, the committee recommended withdrawal of the EDB notification and called for a comprehensive review of the policy framework in consultation with all stakeholders.
