Tue, 21-Oct-2025

IMF-Pakistan discussions begin for $1 Billion loan release

IMF turns down Islamabad's request to reduce property taxes

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have begun policy-level talks to secure the disbursement of a $1 billion loan tranche under the ongoing economic program, as reported on Monday. Sources revealed that today’s discussions focus on the National Finance Commission (NFC) and agricultural income tax. Officials informed the IMF that agricultural taxation has … Read more

Abdul Hafeez Sheikh removed from National Finance Commission

Hafeez Sheikh coronavirus

The prime minister’s adviser on finance, Abdul Hafeez Sheikh, has been removed from the National Finance Commission.

The court submitted a notification of this to the Islamabad High Court on Wednesday. The notification appointing him to the commission, which had been challenged in court, has now been withdrawn, Attorney-General Khalid Jawed Khan said.

But Pakistan Muslim League-Nawaz (PML-N) MNA Mohsin Shahnawaz Ranjha argued that their objection was that the NFC had been formed without consulting them.

I also had issues with the last NFC notification, said the attorney-general. The court praised Jawed Khan for his comments and Justice Miangul Hassan Aurangzeb said not every attorney-general speaks like this.

Ranjha said their victory is that the government has to work according to the Constitution.

However, the PML-N had challenged Hafeez Sheikh being able to chair the NFC as the finance adviser. Traditionally, the country’s finance minister chairs the NFC.

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Balochistan High Court annuls appointment of Hafeez Sheikh in NFC

Abdul Hafeez Shaikh media briefing

The Balochistan High Court has annulled the appointment of Finance Advisor Abdul Hafeez Sheikh and Secretary Finance as experts in the National Financial Commission Award (NFC). According to the details, A bench of the Balochistan High Court comprising Chief Justice Jamal Khan Mandokhel and Justice Nazir Ahmad Langu heard miscellaneous petitions relating to the National … Read more