The federal cabinet, under the chairmanship of Prime Minister Shehbaz Sharif, has approved two key Presidential Ordinances aimed at enhancing revenue collection and regulating madrasa registration.

The first ordinance, an amendment to the Income Tax Ordinance, introduces a new revenue enhancement measure targeting banks earning additional profits of Rs. 70 billion or more. Under this ordinance, tax authorities will collect higher taxes from banks that exceed this profit threshold.

The move is part of the government’s broader efforts to increase revenue amid ongoing economic challenges. The second ordinance, the Societies Registration Amendment Ordinance, focuses on regulating the registration of madrasas across the country.

The ordinance provides legal protection to madrasas under the Directorate General of Religious Education and the Societies Registration Amendment Act. This measure is expected to streamline the registration process and bring madrasas under a unified regulatory framework.

Earlier this week, the federal government proposed introducing an ordinance to regulate madrasa registration nationwide. With the cabinet’s approval, the ordinance will now ensure that madrasas operate under a formal legal structure, promoting transparency and accountability.