Finance Minister Muhammad Aurangzeb said on Tuesday that the incumbent government has provided the "maximum" possible relief to the public in the 2025–2026 budget, with taxes reduced compared to the previous year.
Speaking on Samaa TV programme "Nadeem Malik Live", the finance czar said: "Pakistan has achieved macroeconomic stability. Structural reforms were easy to talk about; they are difficult to implement. The foundation for these reforms has now been laid."
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Aurangzeb said that although steps had been taken towards privatisation, they did not yield success. "We have repeatedly said this will be the last International Monetary Fund (IMF) programme," he added. He said Prime Minister Shehbaz Sharif has appointed him as the head of the implementation committee and that a five-year economic plan has been outlined.
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Commenting on the balance of payments issue, FinMin Aurangzeb said that imports were curtailed to address the situation, although machinery imports have been rising.
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He said: "A decline in wheat and cotton production. The budget aims to set the country in the right direction. The inflation rate remained below the government’s target.
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Aurangzeb said: "The volume of additional taxes ranges between Rs200 billion and Rs250 billion. No new taxes have been imposed on merged districts, while a 47% increase has been recorded in sales tax revenue."
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He said: "A transformation is underway at the Federal Board of Revenue (FBR). A simplified tax return form is being prepared for salaried individuals."
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Aurangzeb said: "Lifestyle data of citizens has always been available with NADRA, and a person’s tax contributions can be verified via their CNIC. “Neither I nor the prime minister draw a salary.”
Underscoring the potential of the country's minerals and mining sector, the minister expressed hope that Pakistan’s IT exports would continue to grow.
