Senate Finance Committee members met in Islamabad on October 1, 2025 to deliberate on pressing matters of tax administration and the proposed Virtual Assets Bill, 2025. Chaired by Senator Saleem Mandviwalla, the Committee examined concerns over the non-implementation of the Presidential Order of 16 July 2025, with particular focus on goods classification and the jurisdiction of the Federal Tax Ombudsman.
Members stressed that the fundamental purpose of the Federal Tax Ombudsman’s office and the Presidential Order is to provide a final appellate mechanism, warning that efforts to challenge the Ombudsman’s decisions risk undermining that role. The Committee agreed that a legal opinion from the Attorney General of Pakistan would be obtained and presented to assist in resolving the matter.
The meeting also addressed allegations raised by Senator Dr. Afnan Ullah Khan regarding alleged harassment of Senators by the Federal Board of Revenue. The Chairman advised Senator Dr. Afnan Ullah Khan to await the outcome of the appeal pending before the relevant forum, and the Committee underlined the need for impartiality in tax administration to avoid perceptions of political victimisation.
Officials briefed the Committee on the Virtual Assets Bill, 2025, explaining the objective to establish a regulatory framework aligned with international practice that protects consumers and prevents misuse while encouraging innovation, particularly among the youth. Members raised questions about consumer protection measures, potential regulatory overlap with existing law, obligations of prospective licensees, and how the Bill would interact with current legislation, noting that several clauses require further refinement.
The Committee decided to carry forward detailed deliberations on the Virtual Assets Bill at its next meeting and to review the Attorney General’s legal opinion on the Presidential Order when available. Participants at the session included Senators Abdul Qadir, Dr. Afnan Ullah Khan, Sherry Rehman, Fesal Vawda, Dilawar Khan, Farooq Hamid Naek, Ahmed Khan, 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.
