ISLAMABAD – Chief of Army Staff (COAS) Field Marshal Syed Asim Munir stepped in to defuse tensions sparked by sweeping new powers granted to the Federal Board of Revenue (FBR) under the Finance Act 2025 amid unrest in Pakistan’s business circle.
Meeting with high-level delegation of industrialists and traders led by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh, the top commander assured business community of full support in restoring economic stability and investor confidence.
In a statement, COAS ordered immediate suspension of Sections 37A and 37B of the Sales Tax Act 1990—controversial clauses that allow FBR officials to arrest and detain individuals without due process. “The entire business community is immensely grateful to Field Marshal Asim Munir for his decisive and timely intervention,” said FPCCI President Sheikh. “His leadership has brought immediate relief and opened the door for meaningful dialogue.”
Finance Act 2025 has ignited nationwide protests, with Karachi and Lahore witnessing complete and partial market closures last week. Traders have condemned the Act as “anti-business,” citing new measures that they argue empower the FBR to act with unchecked authority.
A key point of concern was the delay in finalizing amendments to the Export Facilitation Scheme (EFS), particularly the exclusion of cotton and yarn from the scheme and the imposition of an 18% sales tax on their imports — a move the textile sector says threatens export viability.
Fielf Marshal reaffirmed his commitment to economic revival through the platform of the Special Investment Facilitation Council (SIFC) — a civil-military initiative designed to fast-track investment, cut red tape, and strengthen economic governance.
This rare but powerful intervention by the COAS underscores the growing urgency to stabilize Pakistan’s fragile economy, which has been rattled by inconsistent fiscal policies, high inflation, and dwindling investor confidence. Business leaders now look to the government and the FBR to respond with clarity, flexibility, and a willingness to reform.
