The Federal Minister of Finance, Muhammad Aurangzeb, is aimed at a post-budget press conference, declaring that the government had attempted to provide as much relief as possible to the salaried class.
Speaking in Islamabad, Aurangzeb said that out of a total of 7,000 pricing lines, 4,000 had been brought back to zero. He added that these pricing reforms should stimulate the country’s exports.
Earlier, the Minister of Finance arrived for the briefing accompanied by the Secretary of Finance and the President of the Federal Board of Revenue (FBR). However, journalists boycotted the press conference to protest against the absence of a technical briefing on the budget.
Journalists have noted that for 20 years, it has been standard to provide a technical briefing to journalists according to the budget. This year, they said, the government has broken this tradition.
Later, the Minister of Finance asked the relevant officials to persuade journalists to return.
Federal budget 2025
In accordance with the conditions of the International Monetary Fund (IMF) for fiscal consolidation, the Minister of Finance Muhammad Aurangzeb maintained a firm position in the federal budget for 2025-2026.
Despite this, he extended a relief limited to the salaried class and offered incentives for the real estate and construction sectors, seeking to rekindle industrial activity and stimulate economic growth.
However, the government has also unveiled several new income measures. A carbon tax of RS2.5 per liter will be applied to petrol oil, diesel and furnace starting the next exercise, with plans to double it the following year.
Other tax measures include a 5% levy from large pensions, an 18% tax on imported solar panels and an increase in the supplement on electricity bills to cover both interest and main debt reimbursements. In addition, the government has announced that it would begin to remove tax exemptions currently granted to tribal areas.
