FinMin hints at reducing financial burden on salaried class in upcoming budget


Newly appointed Finance Minister Muhammad Aurangzeb, poses after taking oath in Islamabad, March 11, 2024. — Ministry of Finance
Newly appointed Finance Minister Muhammad Aurangzeb, poses after taking oath in Islamabad, March 11, 2024. — Ministry of Finance

Finance Minister Muhammad Aurangzeb on Sunday announced plans to reduce the financial burden on the salaried class in the upcoming budget.

His remarks came days after thousands of government employees staged a protest demonstration in Islamabad, demanding withdrawal of pension reforms and increase in pay and allowances.

During his interaction with journalists in Lahore, the finance minister highlighted positive economic indicators, including a rise in remittance senders to 35 million and an increase in Roshan Digital Account inflows.

Aurangzeb emphasised the private sector’s vital role in driving the country’s economic progress, stating that foreign exchange reserves were steadily growing, Radio Pakistan reported. 

The minister also expressed his commitment to supporting the construction industry while ensuring no gambling activities in real estate.

A day earlier, the finance czar said that the government’s move to expand the tax base reduced the burden on the national treasury.

Speaking in Faisalabad, the finance czar affirmed that Pakistan’s economy is moving towards improvement, driven by key reforms.

Aurangzeb emphasised that a lower policy rate has also benefited business owners and ongoing economic stability measures were yielding positive results. He also reiterated that inflation has decreased to single digits, providing relief to the public.

The finance minister highlighted that recent tax reforms had significantly increased revenue collection. Addressing concerns about seeking assistance from the International Monetary Fund (IMF), he noted that sustainable governance cannot rely solely on charity, stressing the importance of a strong economic framework.

Aurangzeb further underscored the need for public-private sector collaboration to drive economic growth, stating that working together is crucial for long-term progress.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

This Mumbai Restaurant Has Been Named One Of The Worlds Greatest Places For 2025

TIME Magazine recently unveiled its selection of 'World's Greatest Places' for 2025. Three Indian establishments - two hotels and a restaurant - have made...

Credit Card Usage On The Rise: What It Means For Banks And Consumers

Last Updated:March 14, 2025, 13:58 ISTAs per RBI data, the number of credit cards issued has crossed an impressive milestone of 11 crore by...

Follow us

653FansLike
201FollowersFollow
467SubscribersSubscribe

Most Popular