President Approves Key Bills on Economy and Taxation

President Asif Ali Zardari has approved several key bills and summaries covering export financing, tax administration and financial recovery, according to an official statement issued on Tuesday.

The President gave assent to the Export-Import Bank of Pakistan (Amendment) Bill, 2026, the Financial Institutions (Recovery of Finances) (Amendment) Bill, 2026, and the Federal Board of Revenue (Amendment) Bill, 2026.

The legislation focuses on strengthening Pakistan's export financing system, improving mechanisms for recovering finances by financial institutions and enhancing the country's tax administration and revenue collection framework.

The Export-Import Bank of Pakistan amendment is aimed at improving the country's export financing structure as Pakistan seeks to expand its export base, increase access to international markets and improve the competitiveness of local businesses.

The Financial Institutions (Recovery of Finances) amendment deals with the legal framework governing recovery of outstanding finances by financial institutions, while the FBR amendment concerns improvements to tax administration and revenue mobilisation.

The approvals come as the government continues efforts to strengthen economic governance, improve revenue collection and create a more favourable environment for investment, trade and private-sector growth.

Separately, President Zardari approved a Pakistan Civil Award for Syed Ali Mahmood in recognition of his services to the country.

He also approved Pakistan's ratification of the Makkah Al-Mukarramah Convention on Cooperation in the Enforcement of Anti-Corruption Laws among OIC member states.

The convention seeks to strengthen cooperation between OIC countries in enforcing anti-corruption laws and combating corruption through greater coordination and mutual assistance.