ISLAMABAD: Finance Minister Muhammad Aurangzeb has indicated that the upcoming federal budget, set to be presented on June 10, will include tax relief measures to ease the financial burden on salaried individuals.
Speaking at an event in Islamabad, Aurangzeb emphasized that the government is focused on reducing taxes for the salaried class, noting that their income is currently taxed immediately when credited to their accounts. He highlighted the importance of the budget providing strategic direction beyond just revenue and expenditure figures. “We are taking bold steps to outline the current state of the economy and its future path,” he said.
The minister pointed out that Pakistan’s economic recovery has gained international attention due to its rapid pace. He mentioned ongoing digitization efforts within the Federal Board of Revenue (FBR) that aim to minimize human involvement, thereby enhancing transparency. Reforms are also being introduced in the tax and energy sectors, alongside the handing over of 24 state-owned enterprises to the Privatisation Commission. Aurangzeb added that the economy is moving toward technological transformation.
Aurangzeb shared that recent investor meetings in Washington and London reflected optimism about Pakistan’s economic outlook, with the global community recognizing the country’s macroeconomic stability. He also spoke about plans to simplify the tax filing process for salaried workers and advance pension reforms.
The finance minister expressed hope that the debt repayment burden would ease and noted ongoing efforts to improve the debt management system. He acknowledged climate change as a significant challenge and said reforms are in progress to address it.
On national defense, Aurangzeb stressed full government support for the armed forces, calling defense a national priority. Regarding the IMF programme, he revealed attempts to delay Pakistan’s agenda at the IMF board, but affirmed that Pakistan met all targets and continues to engage constructively with the IMF. He also clarified that no decisions have yet been made on civil or military salary adjustments.
