Islamabad, October 1, 2025 — The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, met to review pressing matters in tax administration and to continue deliberations on the Virtual Assets Bill 2025.
Members examined the non-implementation of the Presidential Order of 16 July 2025, a matter centred on classification of goods and the jurisdiction of the Federal Tax Ombudsman. The committee expressed concern that allowing challenges to the Ombudsman’s decisions would undermine the intended final appellate mechanism, and agreed that a legal opinion from the Attorney General of Pakistan should be presented to guide resolution of the issue.
Senator Dr. Afnan Ullah Khan raised allegations of harassment by the Federal Board of Revenue, prompting the chairman to advise patience until the outcome of an appeal pending before the relevant forum. The committee underlined that impartiality in tax administration is essential and stressed that state institutions must not be perceived as instruments of political victimization.
The briefing on the Virtual Assets Bill 2025 highlighted efforts to build a regulatory framework for virtual assets that aligns with international practices while providing safeguards against misuse. Members welcomed the Bill’s aim to support innovation and broaden economic participation among youth, but flagged the need for stronger consumer protection measures, clearer delineation of regulatory responsibilities to avoid overlaps, precise obligations for licensees, and clarity on how the Bill will interact with existing legislation. Several clauses were identified for further refinement and the committee decided to resume detailed deliberations at its next meeting.
The session was attended by Senators Abdul Qadir, Dr. Afnan Ullah Khan, Sherry Rehman, Fesal Vawda, Dilawar Khan, Farooq Hamid Naek and Ahmed Khan, along with the Minister for Finance and Revenue, the Attorney General of Pakistan, the Federal Secretary of the Ministry of Law and Justice and senior officials from relevant departments. The committee signalled a continued focus on reconciling tax administration concerns with the policy and regulatory direction set out in the Virtual Assets Bill.
