FinMin hints at budget relief for salaried class
Finance Minister Muhammad Aurangzeb indicated on Sunday that the government was planning to reduce the financial burden on salaried persons in the upcoming budget, as national economic indicators remained positive.
Speaking to the media at the Unified Marathon event organised by Special Olympics Pakistan in Lahore, Aurangzeb said preparations for the federal budget 2025-26 were underway in consultation with the business community.
"We have started working on this year's budget after discussions with the business community," Aurangzeb stated. "While the government is doing its part, the real driver of the country's progress is the private sector," he emphasized.
He added that the government must support the private sector through a stable policy framework and continuity. Reforms in the Federal Board of Revenue (FBR) were also in progress to encourage tax compliance, reduce the burden on the manufacturing sector, and provide relief to salaried individuals.
The minister highlighted that economic stability had been achieved and the economy was moving toward growth. "The stock market is performing well, economic indicators are positive, the currency is stable, and foreign exchange reserves have increased," he noted.
"All sectors must contribute to economic growth," he said, stressing that the private sector plays a crucial role in driving progress. "Sustainable growth must be maintainedspeculation will not work," he added.
Aurangzeb also acknowledged the contributions of overseas Pakistanis, expressing gratitude for their remittances. He projected that remittances would reach $35 billion this year, while the Roshan Digital Account was also seeing steady growth.
(WITH INPUT FROM RADIO PAKISTAN)
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