In a significant policy shift, the federal government has relaxed restrictions on high-value purchases for individuals with undeclared assets. The National Assembly Standing Committee on Finance has approved revised thresholds that will impact various transactions.

Under the new regulations, individuals can now purchase cars valued up to Rs. 7 million without facing any restrictions. However, restrictions will still apply to residential property purchases exceeding Rs. 50 million and commercial plots over Rs. 100 million. Additionally, stock market investments surpassing Rs. 50 million annually will be subject to limitations, as will individuals maintaining bank account balances over Rs. 100 million each year.

This decision marks a departure from the original proposal, which aimed to ban all transactions for individuals whose declared assets were deemed unjustified.

In a related development, the Federal Board of Revenue has proposed Rs. 36 billion in new tax measures. This initiative aims to offset the reduced sales tax on solar panel imports, which has been cut from 18 percent to 10 percent, and to finance a 10 percent pay raise for government employees.