Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb revealed that the government is actively working to further reduce power bills by July or earlier, aiming to provide economic assistance to the public.

Key Highlights:

  • Pakistan has met all required targets set by IMF
  • Public, private sectors submitted budget recommendations.
  • Simple form to be introduced for taxpayers, says Aurangzeb.

Aurangzeb mentioned that a comprehensive relief program for the salaried class has been developed and will be incorporated into the upcoming federal budget. He refrained from providing specific details, noting that the International Monetary Fund (IMF) will be informed first as part of ongoing discussions.

The finance minister stated that approximately 98% of the budget recommendations have already been submitted by the public and private sectors. He stressed that the budget preparation is being conducted in close coordination between the government and private stakeholders. Relevant parties will be notified in advance regarding which of their proposals will be included in the budget.

Aurangzeb assured that explanations would be provided for proposals that could not be implemented. “The budget will be enforced in its final form by July 1. Following that, no changes will be made to ensure timely and effective implementation,” he clarified.

He expressed optimism that the IMF Executive Board would approve the staff-level agreement by May, adding that Pakistan has met all the necessary targets set by the IMF, despite some minor delays. “Those delayed targets have also been fulfilled,” he confirmed.

Regarding taxation, the finance minister noted that tax collection from traders has improved and advocated that the trader-friendly scheme should not be directly tied to tax collection results.

Aurangzeb announced that the Tax Policy Division will commence operations under the Finance Ministry later this year, with the goal of enhancing coordination and policy implementation. He also mentioned the introduction of a user-friendly tax form that taxpayers can complete independently, without requiring assistance.