Cabinet Committee Approves Sweeping Amendments to Pakistan's Foreign Exchange Laws

A key federal cabinet committee has approved amendments to Pakistan's foreign exchange laws, along with changes to retirement leave arrangements for armed forces personnel and a legal package that shifts plant protection functions to a new regulatory authority, according to officials.

The Cabinet Committee for Disposal of Legislative Cases met on Friday under the chairmanship of Law and Justice Minister Senator Azam Nazeer Tarar. The approved proposals will now be forwarded to the relevant forums for further proceedings before they can take effect.

Among the measures cleared was the Foreign Exchange Regulation (Amendment) Bill 2026, which aims to revise the legal framework governing penalties and financial fines imposed for violations of foreign exchange regulations. The committee also approved replacing references to the federal government in various laws administered by the Securities and Exchange Commission of Pakistan (SECP) with the names of the relevant competent authorities.

The committee further cleared a proposal concerning leave prior to retirement for armed forces personnel, which also provides for payments in lieu of the portion of retirement leave that personnel do not use.

In the agriculture sector, the meeting approved a comprehensive legal and administrative package for transferring plant protection functions to the National Agriculture Trade and Food Safety Authority. The package includes amendments to the relevant plant protection rules and arrangements for transferring the associated legal documents.

Separately, the committee deferred the draft Press Council of Pakistan Act 2026 for further consultation, meaning the proposed media legislation will undergo additional review before any decision is made.