Federal Finance Minister Mohamed Oranquit said that the upcoming federal budget will include the relief measures targeted for individuals with wages and increased discounts in the electricity tariff, with the aim of implementing by July.
During his talk to the media after the opening of the Gujranwala exhibition, organized by the Local Chamber of Commerce and Industry.
Aurangzeb emphasized that the comprehensive relief package for the salary category and will be presented to the International Monetary Fund (IMF) as part of the ongoing budget discussions.
He added that the measures are under progress to reduce electricity bills either by July or before, as part of the broader economic plan for the government.
The Minister of Finance indicated that all the previous objectives agreed with the International Monetary Fund have been met, and it is expected that the Executive Council will approve the employee level agreement in May. Pakistan expects to exchange a billion dollars segment under the current loan program, as well as a possible climate financing.
Aurangzeb has stated that 98 % of budget suggestions have been received from both public and private stakeholders. He said that the relevant parties will be informed of viable suggestions before the budget is officially submitted in Parliament. He explained that once approved, the budget will be implemented in its final form from July 1 without post -approval changes, ensuring effective implementation.
Commenting on tax reform, Uranzib said that while the collection of revenues from merchants has increased, the trading facilitation system should not be seen only through the tax revenue lens. A simplified tax acknowledgment is developed for broader use, and the drafting of the tax policy will be supervised directly by the Ministry of Finance.
In the relevant development, a technical team from the International Monetary Fund (IMF) is scheduled to visit next week to hold discussions with senior officials of the FBR with regard to tax proposals for the budget coming from 2025-26.
The visit, which was identified on April 14, 2025, will witness talks focusing on expanding the narrow tax base in the country, especially focusing on bringing retailers and non -taxable sectors to the tax system.
One of the main issues on the table will be the government’s desire to reduce tax rates for individuals with wages, and the IMF step as part of the broader financial discussions will be evaluated.
In addition, the two sides will explore the ability to include the highest segment of pensioners in the tax network, a topic that is still under review.
It is expected that the visit of the International Monetary Fund team will continue for more than a week, and in line with the departure of another mission from the International Monetary Fund, focusing on governance assessments and anti -corruption.
