US EXIM Bank

Finance Minister Muhammad Aurangzeb on Wednesday renewed his call for a simplified tax return form for salaried taxpayers, saying there was “no logic” behind the lengthy and complicated filing process currently required from one of Pakistan’s most documented segments. The finance minister made the remarks at the Federal Board of Revenue (FBR) headquarters during the launch of a mobile application for the Fixed Tax Asaan Scheme, aimed at helping small traders and shopkeepers register and file their tax returns digitally. Aurangzeb was accompanied by Minister of State for Finance Bilal Azhar, FBR Chairman Rashid Mahmood Langrial and representatives of the trading community. “I do not see any logic for this complicated form,” Aurangzeb said, arguing that even an MBA graduate could face difficulties completing the existing tax return. He pointed out that around 70 per cent of salaried income is deposited directly into bank accounts after taxes are deducted, leaving limited scope for additional income streams that would justify a highly complicated filing process. ‘Asaan Tajir’ App Launched For Small Traders The government also launched the Asaan Tajir mobile application to facilitate small traders and shopkeepers under the Fixed Tax Asaan Scheme. The application features a simplified tax form in Urdu and is available through the Google Play Store under the “Asaan Tajir” icon. Traders can register through the application and receive a Payment Slip Identification Number (PSID), which can then be used to pay their tax digitally. Once the payment is completed, users will receive confirmation of their registration under the scheme and an updated tax filer status. The application will also provide information about the benefits available to registered traders. Minister of State Bilal Azhar said the application would be made available on Apple’s App Store in the coming days. He added that the government planned to introduce versions in other local languages, including Pashto, Balochi and Sindhi, by the first week of September. Green Identification Plates For Registered Traders The government also plans to issue physical green identification plates to traders registered under the scheme. Bilal Azhar displayed a sample of the plate, which he said would contain security features to help identify genuine participants in the tax scheme. Traders who register before the tax-filing deadline will receive the identification plate free of charge. The eventual price of the plate is expected to remain below Rs1,500. The initiative is also intended to reduce unnecessary interaction between registered traders and tax officials. FBR Chairman Rashid Mahmood Langrial said that once the identification plate was displayed, no FBR officer or official would enter the shop of a bona fide registered trader for routine tax matters. The FBR chairman expressed hope that the scheme would attract a strong response from the trading community and improve both taxpayer registration and revenue collection. The Fixed Tax Asaan Scheme was announced ahead of the federal budget presented on June 5. The government subsequently worked on developing the digital application and identification system. Traders To Receive Local Support The government also plans to provide assistance to traders who face difficulties using the digital system. According to Bilal Azhar, traders will be able to approach designated focal offices and officials at Regional Tax Offices in their respective districts. The support mechanism is intended to encourage registration among small businesses that may have limited experience with digital tax filing. The government has been attempting to broaden the country’s tax base by bringing previously under-documented segments of the economy into the formal tax system. The simplified application is part of that effort, allowing traders to complete registration and tax payment through a digital platform rather than relying entirely on conventional paperwork. Pakistan Seeks US Support Facility Speaking to reporters after the launch, Finance Minister Aurangzeb also disclosed that Pakistan had formally requested a US Exchange Stabilisation Support Facility as part of its efforts to strengthen the rupee and improve foreign exchange reserve stability. He said negotiations with the United States were currently under way and Pakistan expected a response from the US Treasury or US Exim Bank by the end of September 2026. The reported request, which could amount to around $10 billion, is primarily aimed at strengthening market confidence in Pakistan’s currency and external sector rather than functioning as a conventional loan. The facility could potentially provide additional financial support at a time when Pakistan is seeking to reduce its dependence on repeated loan rollovers. Govt Seeks Longer Debt Maturities Aurangzeb said Pakistan was also working toward extending debt maturities to reduce the pressure created by frequent refinancing and bilateral loan rollovers. The government is exploring arrangements involving maturities of five, seven and 10 years. He said Pakistan was seeking to extend the maturity period of existing bilateral loans for as long as 10 years where possible. Longer maturities would give Pakistan greater room to manage external debt repayments and reduce the frequency with which the government needs to seek refinancing or rollover arrangements. The finance minister’s comments therefore covered two key areas of Pakistan’s economic policy: simplifying tax compliance for documented taxpayers and strengthening external financial stability.