FBR powers

AS expected, the government’s attempts to fit out the tax authority with ramped-up powers has produced a backlash. And against this backlash, we see the old instincts swinging into play. The prime minister has reportedly asked the FBR to ‘go slow’ with the powers they have been vested in the Finance Act for FY26, and the finance ministry has formed a committee to hold talks with the business community around these powers. Against these steps, the leadership of the Karachi-based Federation of Pakistan Chambers of Commerce and Industry has reportedly postponed its strike call given for this Saturday, while the Lahore business community appears steadfast in its resolve to continue with the strike plan.