ISLAMABAD – The Federal Board of Revenue (FBR) has made it mandatory to report financial transactions exceeding Rs100 million to its central data hub under the Finance Act 2026-27.
Under the new provisions, banks and Electronic Money Institutions (EMIs) will be required to provide financial information of account holders involved in such transactions to the FBR’s central data hub.
The measure will enable the automatic comparison of tax and banking information related to major financial transactions. Any discrepancies identified during the process could lead to further action by the authorities.
The provision has been introduced under the Finance Act 2026-27 as part of measures to strengthen the monitoring of significant financial transactions and improve compliance with tax requirements.
Meanwhile, the federal government’s debt increased by Rs18,832 billion during the first 28 months of the current federal government, according to State Bank of Pakistan (SBP) data.
According to SBP documents, between March 2024 and June 2026, the federal government’s domestic debt increased by Rs16,766 billion, while its external debt rose by Rs2,066 billion. This translates into an average increase of more than Rs22.4 billion per day.
The documents show that the federal government’s total debt stood at Rs64,810 billion by February 2024, the final month of the caretaker government. After an increase of Rs18,832 billion over the following 28 months, the debt reached Rs83,642 billion by June 2026.
According to the SBP, the central government’s domestic debt stood at Rs42,675 billion in February 2024 and rose to Rs59,441 billion by June 2026.
Similarly, the federal government’s external debt increased from Rs22,134 billion in February 2024 to Rs24,201 billion by June 2026.
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