Federal Finance Minister Muhammad Aurangzeb has revealed that the upcoming national budget will provide financial relief for the salaried segment. He also mentioned that discussions with the International Monetary Fund (IMF) are ongoing to help lower electricity bills by or before July.
Aurangzeb stated that a detailed relief package aimed at salaried workers has already been drafted and will soon be shared with the IMF. He confirmed that although a few IMF targets were slightly delayed, all have now been fulfilled. The IMF Executive Board is expected to approve the Staff-Level Agreement in May, unlocking a $1 billion tranche and additional climate funding.
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He also mentioned that 98% of budget proposals have been collected from both public and private sectors. Authorities are working with stakeholders to evaluate which suggestions are feasible. Sectors will be informed in advance about which of their proposals have been accepted or declined, along with justifications.
Aurangzeb confirmed that the new budget will take effect from July 1, with no amendments post-presentation to ensure swift implementation.
On taxation, he highlighted growing tax compliance among businesses but clarified that the trader-friendly scheme shouldn’t be viewed as a revenue-generating measure alone.
A new, simplified tax filing form is being developed to make self-filing easier for individuals. Additionally, tax policy matters will now fall under the direct jurisdiction of the Ministry of Finance.
