ISLAMABAD
\nFederal Finance Minister Muhammad Aurangzeb has signalled tax relief for the salaried class, saying the upcoming federal budget \u2014 set to be presented on June 10 \u2014 will include measures to ease the financial burden on salaried individuals.
\nSpeaking at an event in Islamabad on Monday, the finance minister said the government is actively working to reduce the tax burden on salaried persons, adding that their income is taxed as soon as it is credited into their accounts. He stressed the need for a strategic direction in the budget, not just a statement of income and expenditure.
\n\u201cWe are taking bold steps in the upcoming budget to show where the economy stands and where it is headed,\u201d he said. Aurangzeb said Pakistan\u2019s economic recovery is gaining international recognition, with the speed of improvement surprising observers. He highlighted that digitisation in the Federal Board of Revenue (FBR) is underway and reducing human intervention will increase transparency.
\nThe finance minister further noted that reforms are being introduced in the tax system, energy sector, and other areas. \u201cWe have already handed over 24 SOEs to the Privatisation Commission,\u201d he said, adding that the economy is moving towards technological transformation. The minister shared that during recent meetings with investors in Washington and London, Pakistan received a positive response on its economic outlook.
\n\u201cThe world is satisfied with Pakistan\u2019s macroeconomic stability,\u201d he said, reaffirming the government\u2019s commitment to long-term reforms. He also mentioned the government is working on simplifying the tax filing process for salaried individuals and pushing forward with pension reforms.
\nAurangzeb expressed hope that the country\u2019s debt repayment burden will ease and said climate change remains a major challenge, for which necessary reforms are underway.
\nMeasures will also be taken next year to improve the debt management system. He noted that rightsizing efforts are ongoing in federal government departments.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Federal Finance Minister Muhammad Aurangzeb has signalled tax relief for the salaried class, saying the upcoming federal budget \u2014 set to be presented on June 10 \u2014 will include measures to ease the financial burden on salaried individuals. Speaking at an event in Islamabad on Monday, the finance minister said the government is actively […]<\/p>\n","protected":false},"author":2,"featured_media":480942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-480924","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\n