The Federal Board of Revenue has effectively executed significant reforms in the past year, enhancing tax administration, compliance, and digital transformation under the leadership of Prime Minister Shehbaz Sharif.
The FBR implemented AI-driven risk identification algorithms to improve tax audits and introduced a customer relationship management dashboard for real-time compliance monitoring.
Moreover, AI-driven Customs Intelligence and digital invoicing systems have transformed tax collection and customs operations.
The implementation of faceless customs assessment has markedly diminished clearance waits, optimizing international trade.
The unified sales tax return has streamlined the tax filing procedure, while the continuous advancement of a tier-3 data center seeks to enhance data security and AI-driven surveillance.
To enhance transparency, the FBR digitized its litigation management system for faster dispute resolution.

The government has designated Bilal Bin Saqib MBE as the Chief Adviser to the Finance Minister on the Pakistan Crypto Council to reinforce Pakistan’s dedication to technological advancement while implementing effective policy measures that bolster the national economy, facilitate digital transformation, and ensure a secure, transparent financial system for all.

A press release from the finance ministry on Wednesday states that Bilal Bin Saqib, acknowledged by Forbes, is a Web3 investor, strategic advisor, and thought leader in the blockchain sector.

Saqib was featured in Forbes’ 30 Under 30 list and has received recognition from King Charles III, the late Queen Elizabeth II, and the Mayor of London for his contributions to the community.

He received the 1632nd Points of Light Award, conferred by the British Prime Minister to acknowledge change-makers in the nation. He was awarded the MBE (Member of the British Empire) in 2023 for his contributions to the National Health Service in the UK.

In this pivotal role as the Chief Adviser to the Finance Minister on the Pakistan Crypto Council, Saqib will lend his great knowledge and experience to Pakistan’s efforts to integrate cryptocurrency and blockchain technologies into its financial ecosystem while ensuring the development of a robust regulatory framework for digital assets in alignment with global best practices.

Furthermore, he will counsel the Finance Ministry on investigating the application of artificial intelligence (AI) to improve governmental efficiency, refine decision-making processes, and foster innovation in public sector operations.

Saqib’s nomination signifies a pivotal advancement in Pakistan’s dedication to harnessing the revolutionary capabilities of digital currencies, safeguarding financial security, alleviating risks, and accurately evaluating the influence of cryptocurrencies on the nation’s economy.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb endorsed the appointment of Bilal Bin Saqib, emphasizing the significant impact his extensive expertise and innovative vision are expected to have on shaping Pakistan’s stance in the swiftly advancing digital economy.

Edible oils, such as cooking and mustard oils, experienced a significant price increase, with the price of open edible oil escalating from Rs480 to Rs500 per litre.

A local merchant reported, “Mustard oil has risen in price by Rs20 per litre, now costing Rs520.”

Different brands of cooking oil were noted to be priced variably in Karachi’s markets, indicative of the prevailing inflationary trend in food products.

The escalation in edible oil prices corresponded with the surging costs of fruits, prompting consumer apprehension around heightened expenditures during Ramadan.