Govt’s Commitment to Easing Burden on Salaried Class: Aurangzeb
Minister’s Statement
Finance Minister Muhammad Aurangzeb reaffirmed the federal government’s commitment to reducing the financial burden on the salaried class. Speaking to reporters in Lahore, he stated, “The government hopes to reduce the burden on the salaried class,” aiming to address concerns regarding high taxes.
Meeting Revenue Goals Without Additional Burden
Earlier this week, in an exclusive interview with Bloomberg News, Aurangzeb expressed confidence that Pakistan would meet its revenue targets for the year without imposing further strain on existing taxpayers. This reassurance comes amid criticism over the government’s unpopular reforms, including the implementation of record-high taxes.
Tax Reforms Linked to IMF Loan
One of the government’s key objectives is to raise the tax-to-GDP ratio, a crucial requirement for the $7 billion loan deal with the International Monetary Fund (IMF). The loan is intended to stabilize Pakistan’s struggling economy and manage its growing debt obligations.
Minister’s Overseas Engagements
Aurangzeb recently returned from visits to Saudi Arabia, the UAE, and the US. He assured that there was “no displeasure overseas” among the Pakistani diaspora regarding the country’s economic trajectory. The finance minister represented Pakistan at the Emerging Markets Conference-2025 in Saudi Arabia, a significant event attended by finance ministers, central bank governors, and economic experts from around the world.
Positive Economic Indicators
During his address, Aurangzeb highlighted several positive developments in Pakistan’s economy. These included a rise in remittance senders to 35 million and increased inflows into Roshan Digital Accounts. He also stressed the growing foreign exchange reserves, underlining the importance of the private sector in driving economic growth.
Support for Construction Industry
Aurangzeb reiterated the government’s commitment to supporting the construction industry while ensuring that no speculative activities, such as gambling in real estate, would be tolerated.
Key Points:
- Finance Minister Aurangzeb committed to reducing the burden on the salaried class.
- Pakistan aims to meet revenue targets without imposing further taxes on existing taxpayers.
- Raising the tax-to-GDP ratio is crucial for Pakistan’s $7 billion IMF loan.
- Aurangzeb highlighted positive economic trends, including increased remittance senders and foreign exchange reserves.
- The finance minister is actively engaging with international economic forums and supports the construction industry while curbing speculative practices.
