Aurangzeb hints at relief for salaried class in budget

ISLAMABAD: Finance Minister Muhammad Aurangzeb 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 demonstration in Islamabad, demanding withdrawal of pension reforms and increase in pay and allowances.

In an 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 emphasized the private sector’s vital role in driving the country’s economic progress, stating that the foreign exchange reserves were steadily growing, reports Geo News quoting Radio Pakistan.

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 the government’s move to expand the tax base had reduced the burden on the national treasury.

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

Aurangzeb emphasized that a lower policy rate had also benefited business owners and ongoing economic stability measures were yielding positive results. He also reiterated that inflation had dropped to single digit, providing relief to the public. The finance minister highlighted that the recent tax reforms had significantly increased revenue collection. Addressing concerns about seeking assistance from the International Monetary Fund (IMF), he noted that sustainable governance could not 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 was crucial for long-term progress.