PSW, Sindh Board of Revenue Sign SLA to Digitize Stamp Duty Collection

 Pakistan Single Window (PSW) and the Board of Revenue, Sindh (BoRS) have signed a Service Level Agreement (SLA) to formalize the digital collection of Sindh Stamp Duty on cross-border trade declarations through the PSW platform.

The agreement was signed by Naveed Abbas Memon, Chief Domain Officer, PSW, and Nazir Ahmed Qureshi, Member RS&EP, Board of Revenue Sindh.

Under the new arrangement, a dedicated interface will be established for the Board of Revenue Sindh, enabling real-time monitoring of stamp duty collections. The system will also facilitate efficient daily and monthly reconciliation of collections against government receipts.

The digital mechanism is expected to strengthen transparency, visibility and traceability in the stamp duty collection process while improving the efficiency of revenue management.

The partnership also marks a further expansion of the PSW digital ecosystem by bringing additional government processes onto a unified digital infrastructure. The initiative is aimed at supporting greater automation, improved coordination among government agencies and enhanced trade facilitation.

The agreement reflects ongoing efforts to advance digital transformation in Pakistan's trade and revenue systems and create more efficient, transparent and integrated government services.

KCCI Clarifies No Extension in FBR Biometric Verification Deadline Under SRO 350

The Karachi Chamber of Commerce and Industry (KCCI) has issued an important circular for its members, clarifying that the Federal Board of Revenue (FBR) has not extended the deadline for biometric verification required under SRO 350.

According to the KCCI, the deadline for completing biometric verification remains July 31, 2026. The Chamber advised members not to rely on unverified reports circulating on social media or other platforms claiming that the deadline has been extended or revised.

The KCCI further stated that the growing number of simultaneous biometric verification requests has placed significant pressure on the system, resulting in server congestion and operational disruptions. To help avoid unnecessary delays and technical issues, members have been advised not to rush the process at the same time.

Instead, businesses and taxpayers are encouraged to complete their biometric verification at their convenience before the July 31, 2026 deadline to ensure compliance with FBR requirements under SRO 350.

The Chamber emphasized that timely completion of the verification process will help members avoid last-minute complications while ensuring smooth compliance with tax regulations.

Mian Zahid Hussain Welcomes Shift Toward Industrial Growth, Urges Swift Implementation

 Prominent business leader Mian Zahid Hussain welcomed Finance Minister Muhammad Aurangzeb’s declaration that Pakistan has moved beyond economic stabilization and entered a phase focused on industrial growth.

Reacting to the minister’s speech at the Pakistan Economic Growth Conference held on Saturday, Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, Chairman of the National Business Group Pakistan, Chairman of the Policy Advisory Board of FPCCI, and former provincial minister for information technology,  said the business community felt reassured by the acknowledgment that the state cannot provide jobs to the entire population and that the private sector must serve as the primary engine of employment.

He emphasized, however, that the promise to extend “all possible resources” to businesses must materialize in the form of reduced energy tariffs and single-digit interest rates. Without these steps, he warned, industrialization would remain a distant dream.

Mian Zahid Hussain particularly underscored the minister’s assurance regarding the Super Tax. He termed the review of the mechanism and the possibility of allowing installment payments a significant confidence-building measure. He urged the Federal Board of Revenue to issue a notification within 48 hours to protect compliant taxpayers from unnecessary harassment.

Highlighting the urgency of relief for exporters, he referred to the finance minister’s commitment to announce concrete measures for the textile sector within 10 to 12 days. While welcoming the timeline, he cautioned that any delay would prove damaging as regional competitors such as India continue to enjoy advantages including duty-free access to Western markets.

The business leader also appreciated the minister’s frank assessment of the IT sector, noting that exports currently stand at around $3–4 billion but could potentially reach $10 billion if the digital ecosystem is facilitated rather than overregulated. He welcomed the invitation extended to sectoral associations for further dialogue in Islamabad in the coming fortnight.

Supporting the government’s firm action against tax evasion, Mian Zahid Hussain cited the recent FIR against a sitting senator in the tobacco sector as evidence of the state’s authority. Nevertheless, he stressed that enforcement should target the vast informal economy and smugglers instead of placing additional burdens on salaried individuals and documented businesses.

He concluded by calling for the proposed Construction Relief Package to prioritize low-cost housing and industrial infrastructure rather than fueling real estate speculation. Such a focus, he said, would help activate dozens of allied industries connected to construction.

“The Finance Minister has spoken the language of the business community in Lahore,” he remarked. “Now the bureaucracy must move swiftly to turn this vision into reality.”