The Federal Minister of Finance, Muhammad Aurengzeb, is aimed at a press conference after the budget, stating that the Government tried to provide the greatest possible relief to the wage class.
Speaking in Islamabad, Aurengzeb said that of a total of 7,000 tariff lines, 4,000 have been reduced to zero. He added that these tariff reforms are expected to promote country exports.
Previously, the Minister of Finance arrived for the information accompanied by the Secretary of Finance and the president of the Federal Income Board (FBR). However, journalists boycotted the press conference in protest of the absence of a technical information session on the budget.
The reporters pointed out that during the last 20 years, it has been a standard practice to provide a technical informative session to journalists after the budget. This year, they said, the government broke that tradition.
Later, the Minister of Finance instructed the relevant officials to persuade journalists to return.
Federal Budget 2025
In line with the conditions of the International Monetary Fund (IMF) for fiscal consolidation, Finance Minister Muhammad Aurengzeb maintained a firm position in the federal budget by 2025–26.
Despite this, it extended a relief limited to the wage class and offered incentives aimed at real estate and construction sectors, seeking to relive industrial activity and stimulate economic growth.
However, the government also announced several new income measures. A carbon tax of RS2.5 per liter will be applied to gasoline oil, diesel and oven from next fiscal year, with plans to double it the following year.
Other fiscal measures include a 5 percent tax in large pensions, an 18 percent tax in imported solar panels and a greater surcharge of electricity invoices to cover both interest and main debt payments. In addition, the Government announced that it would begin to eliminate tax exemptions currently granted to tribal areas.
