Finance Minister Muhammad Aurangzeb has revealed that the government is actively crafting measures to provide financial ease to the salaried segment in the forthcoming federal budget.
Addressing the media, the minister shared that a detailed plan has been formulated to reduce the financial pressure on salaried employees. This initiative will be shared with the International Monetary Fund (IMF) for its endorsement.
He confirmed that the new budget will be finalized and put into effect on July 1, 2025, with no amendments permitted after that date. “This timeline ensures ample room for proper budget execution,” he added.
The Finance Minister Muhammad Aurangzeb also shed light on rising tax revenue from the business community, emphasizing that pro-trader policies should not be misinterpreted as lax tax enforcement. He announced that the newly established Tax Policy Division will be integrated into the Ministry of Finance later this year. Moreover, a user-friendly tax form is being designed to help individuals file returns on their own without professional assistance.