Page 70 - CMA Journal (May-Jun 2026)

REGULATORY O T H E R F E A T U R E S
Other Features
NEWS

By: ICMA Research and Publications Department

By ICMA Research and Publications Department
Pakistan Introduces National Data SBP Unveils First Research Agenda
Governance Policy 2026 (2026–2029)

Pakistan's Ministry of Information Technology and The SBP has launched its Research Agenda 2026–2029 to
Telecommunication has introduced the National Data strengthen evidence-based policymaking, focusing on
Governance Policy 2026 under the Digital Nation Pakistan in ation and monetary policy, nancial sector stability, and
initiative, establishing a comprehensive framework for structural transformation. Aligned with SBP Vision 2028, the
managing public-sector data. The policy classi es agenda also aims to enhance collaboration with academia
government data as a strategic national asset, mandates and policymakers to improve macroeconomic research and
that sensitive government and personal data remain hosted
within Pakistan, promotes a "once-only" principle for citizen regulatory decision-making.
data sharing through the WASL National Data Exchange, and Pakistan Introduces Insurance Bill 2026
strengthens digital privacy rightsalong with governance
standards for arti cial intelligence. The Federal Government has introduced the Insurance Bill
2026 to modernize Pakistan's insurance sector by replacing
SECP Advances Business Formalization the Insurance Ordinance, 2000. The Bill facilitates foreign
and ESG Framework investment, introduces perpetual licensing, supports digital

SECP has strengthened Pakistan's corporate and nancial insurance and insurtech, strengthens consumer protection,
sector through reforms, registering 3,161 new companies and promotes a more competitive and innovation-driven
and achieving a record 415 incorporations in one day. Total insurance market.
registered companies reached 297,239, with 52% of new
registrations from Punjab. Private limited companies made Pakistan Launches Strategic Oil Reserve
up 60% of incorporations, mostly in IT and e-commerce. and Storage Expansion Plan
Foreign investors from 17 countries participated, with China
leading in capital contribution. Additionally, SECP Pakistan has launched a strategy to strengthen energy
introduced Pakistan's rst ESG Mutual Funds Framework for security by establishing strategic petroleum reserves and
sustainable investment, requiring ESG funds to invest at expanding fuel storage. The plan includes bonded storage
least 50% in ESG-aligned assets, aiming to attract facilities, international partnerships, and mandatory
responsible investment and enhance the sustainable stockholding, supported by a Rs. 10 per litre allocation from
nance ecosystem. petroleum levies to enhance energy resilience and supply
FBR Introduces Data-Driven Tax security.
Forecasting Expands Digital Taxpayer Pakistan Reviews Cotton Sector
Facilitation Challenges

FBR has adopted a buoyancy-based tax forecasting Finance Minister Muhammad Aurangzeb met with the
framework for FY2026–27 to improve the accuracy of Pakistan Cotton Ginners' Association to discuss challenges
revenue projections. The new model recalibrates tax facing the cotton sector, including high input costs and
estimates using 20 years of historical data on GDP, taxation. The government rea rmed its commitment to tax
large-scale manufacturing (LSM), imports, and tax reforms, improving value addition, strengthening the
collections, enabling more reliable forecasting and supply chain, and supporting exports and investment.
evidence-based scal planning. In parallel, FBR has
strengthened its digital taxpayer services by establishing a
dedicated Pakistan Revenue Automation Limited (PRAL)
Front Desk at the Large Taxpayers O ce (LTO) in Karachi.
Operational since 5 June 2026, the facilitation centre
provides technical support for the IRIS tax portal and other
digital systems, assisting taxpayers with registration, online
payments, and system-related issues.

68 ICMA’s Chartered Management Accountant, May-Jun 2026