Government allows up to PKR 100 Million Cash Withdrawal for Non Filer

This is the biggest U-turn of this government, as they have taken a step back from blocking all the non-filers' accounts, and now they will allow up to PKR 100 million withdrawal for non-filers. Recently, the government of Pakistan and the FBR wanted a presidential ordinance in the form of Tax Amendment 2024; however, the cabinet rejected the request of the FBR and the finance minister and sent the bill to the parliament, and it was tabled in the NA in December 2024. However, the Senate and both NA committees rejected the bill at that time because the FBR's demands were not realistic. 

NA and the Senate, with proper scrutiny of the bill and amendments as well as seeing the recommendation of the business community, decided that the Senate would temper down the bill. The Senate has recommended that the FBR will not harass private and non-filers and will be able to withdraw or keep money up to PKR 100 million. A non-filer can also purchase a car for up to PKR 70 million in price, and he or she can also purchase property up to PKR 50 million.

However, the FBR was of the view that such relaxation wouldn't benefit the FBR, and it would also upset the IMF, as the FBR promised the IMF to enforce measures via other means. Therefore, the FBR has already brought adjustments up to PKR 36 billion and said if the relaxations are given, then the FBR has to raise the taxes on other items as well. However, the government said that the IMF won't be appeased by such a measure by parliament.