Pakistan, June 17 -- The Pakistani government has decided to stop giving tax exemptions to new Special Economic Zones (SEZs). This step is part of ongoing reforms under the International Monetary Fund (IMF) program. Finance Minister Muhammad Aurangzeb told the National Assembly's Finance Committee that the exemptions were not giving the expected economic results. He explained that the existing SEZs were not performing as well as planned.

Federal Board of Revenue (FBR) Chairman Rashid Langrial confirmed that the tax breaks for new SEZs will no longer be available. Although the IMF wanted all exemptions gone by 2027, the government successfully negotiated more time. Now, existing SEZs will enjoy tax holidays only until 2035. This decision ...