The Federal Board of Revenue (FBR) has submitted a summary seeking tax exemptions for US tech companies (like Google and Meta), aiming to secure a trade deal with the Trump administration ahead of the August 1 deadline.
The summary is awaiting approval from Prime Minister Shehbaz Sharif and the federal cabinet, reported a news daily.
The proposed deal includes reciprocal tariff cuts. The US may reduce it to 15–20 percent.
Finance Minister Muhammad Aurangzeb and senior officials are in Washington to finalize the agreement within 48 to 72 hours.
The deal could boost Pakistan’s exports by several billion dollars and give it a trade edge over Bangladesh, India, and Vietnam.
Islamabad is also ready to assure that tariff incentives will continue post-IMF program.