ISLAMABAD, May 26 (Alliance News): Federal Finance Minister Muhammad Aurangzeb on Monday announced that the government plans to provide tax relief to the salaried class in the federal budget for 2024–25, scheduled to be presented on June 10.
Speaking at an event in Islamabad, Aurangzeb acknowledged that salaried individuals face immediate taxation as soon as income enters their accounts and said the government is actively working to reduce this burden.
He stressed that the upcoming budget will reflect a clear economic direction, not merely a statement of revenue and expenditure. “We are taking bold steps to show where the economy stands and where it is headed,” he said.
Aurangzeb highlighted Pakistan’s improving economic indicators, stating that the country’s economic recovery is being acknowledged globally. He said the ongoing digitisation of the Federal Board of Revenue (FBR) would bring greater transparency and reduce human involvement.
The minister also noted that key reforms are underway in the tax system, energy sector, and public enterprises. “We’ve handed over 24 state-owned enterprises to the Privatisation Commission,” he said, signalling a move toward economic transformation through technology.
Aurangzeb said that meetings with investors in London and Washington generated positive feedback on Pakistan’s macroeconomic outlook. He reaffirmed the government’s focus on simplifying the tax filing process for salaried individuals and advancing pension reforms.
He added that rightsizing of federal departments is ongoing and expressed hope that debt servicing burdens will ease, though climate change remains a pressing challenge requiring structural reforms.
‘Pakistan Met All IMF Targets’
Later, while addressing the media, the finance minister said that Pakistan had met all conditions set by the International Monetary Fund (IMF) under the current programme.
He revealed attempts had been made to delay the IMF board meeting and exclude Pakistan from the agenda, but the country’s case was taken up on merit.
“If we had not fulfilled the targets, we would have faced serious consequences,” Aurangzeb said, confirming that the IMF mission had completed its visit and that virtual discussions would continue during the week.
On defence allocations, Aurangzeb said national defence is a collective responsibility and assured continued government support for the armed forces.
He also clarified that no final decision has been taken yet regarding salary adjustments for civil or military personnel.
