Islamabad: Finance Minister Muhammad Aurangzeb has stated that a program has been devised to provide relief to the salaried class in the upcoming budget.
Speaking to the media in Islamabad, the finance minister said that measures are being taken to ensure economic stability and to facilitate the business community. He emphasized that all sectors must play a role in increasing exports, as Pakistan has products that can become international brands. He added that the country needs to promote export-based economic growth.
He further stated that Pakistan is set to engage in constructive talks with the United States, its largest trading partner. A Pakistani delegation will visit the U.S. on the Prime Minister’s instructions for positive discussions.
Muhammad Aurangzeb said that work is underway to reduce electricity bills further by July or earlier.
He reiterated that a program has been prepared to provide relief to the salaried class in the next budget, but the details cannot yet be shared with the media. These details will first be presented to the International Monetary Fund (IMF).
The finance minister mentioned that 98% of budget proposals have been received from both the public and private sectors. The government and private sector are working together on these proposals. Before presenting the budget in the assembly, relevant stakeholders will be informed about which proposals will be implemented. Those that are not implemented will be explained to the concerned sectors.
He added that the budget will be finalized and come into effect on July 1, and no changes will be made after that date. The aim is to allow more time for effective implementation of the budget.
Muhammad Aurangzeb also said that all targets set by the IMF have been met and expressed hope that the IMF Executive Board will approve the staff-level agreement in May.
He concluded by saying that tax collection from traders has improved and that the trader-friendly scheme should not be linked with tax collection from traders. The tax policy division will begin working under the Ministry of Finance this calendar year. A new tax return form is being designed that every taxpayer can fill out independently.
