Finance Minister Muhammad Aurangzeb has acknowledged the financial burden on the salaried class, emphasizing that repeatedly taxing them is not a sustainable solution.
Speaking at the Retail Business Council in Islamabad, he stressed that other sectors must also contribute to tax revenues, highlighting that despite their significant economic share, the agriculture and retail sectors contribute less in taxes.
The minister warned that strict measures will be taken against tax evasion, stating that the government can no longer tolerate sales tax fraud and fake invoices. He added that budget proposals from the business community are already being collected.
Aurangzeb also pointed out improvements in foreign exchange reserves and a consistent decline in interest rates, asserting that Pakistan’s economy is heading in the right direction. He credited Prime Minister Shehbaz Sharif’s active role in steering the economy toward stability.
Highlighting ongoing economic reforms, he mentioned reducing customs clearance time to 18 hours and introducing modern tax reforms. He also reiterated the government’s commitment to "right-sizing" public institutions, a process that began during the PTI government’s tenure.
