Govt hopes to reduce burden on salaried class: Aurangzeb

Published February 23, 2025
Finance Minister Muhammad Aurangzeb speaks to media — DawnNewsTv
Finance Minister Muhammad Aurangzeb speaks to media — DawnNewsTv

Finance Minister Muhammad Aurangzeb reaffirmed the federal government’s commitment to reduce the burden on the salaried class, state-owned Radio Pakistan reported.

Earlier this week, the minister had stated that the country will be able to meet its revenue goals for the year without further burdening existing taxpayers, according to an exclusive interview with Bloomberg News.

Aurangzeb’s statement comes as Pakistan looks to curb the criticism it has faced since last year over unpopular reforms, including record-high taxes.

Raising the tax-to-GDP ratio is a key condition of Pakistan’s $7 billion loan deal with the International Monetary Fund (IMF), which was needed to shore up a faltering economy and manage its mounting debts.

In 2024, the salaried class emerged as the third-largest contributor to income tax collection in the outgoing fiscal year, following closely behind banks and petroleum products, and still surpassing the country’s affluent textile exporters.

The salaried class contributed Rs367.8 billion to income tax collection in FY24, a 39.42 per cent rise, from Rs263.8bn in FY23.

Speaking to reporters in Lahore today, the finance minister said, “The government hopes to reduce the burden on the salaried class.”

In light of his recent state visits to Saudi Arabia, the UAE and the US, the minister said that there was “no displeasure overseas” in the diaspora regarding Pakistan’s trajectory.

Aurangzeb represented Pakistan at the two-day Emerging Markets Conference-2025 in Saudi Arabia, which is attended by finance ministers, central bank governors, policymakers and economic experts from around the world.

The high-profile gathering included IMF Managing Director Kristalina Georgieva, Bahrain’s Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa and Saudi Arabia’s Vice Minister of Finance Abdulmuhsen Alkhalaf, a news release said.

Mr Aurangzeb’s participation underscored Pakistan’s proactive engagement in global economic policymaking and its commitment to fostering regional and international partnerships.

Meanwhile today, he also highlighted positive economic indicators, including a rise in remittance senders to 35 million and an increase in Roshan Digital Account inflows, according to Radio Pakistan.

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

Furthermore, the finance minister expressed his commitment to supporting the construction industry while ensuring no gambling activities in real estate.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Trouble at home

Trouble at home

The country’s strength lies in its political and economic stability, not in fleeting moments of diplomatic success.

Editorial

Pezeshkian’s visit
Updated 24 Jun, 2026

Pezeshkian’s visit

Perhaps a good place to start would be the resumption of work on the Iran-Pakistan gas pipeline.
Telecom bill
24 Jun, 2026

Telecom bill

THERE is now no question about it: the Pakistan Telecommunication (Re-organisation) (Amendment) Bill of 2026 is a...
Updating Islamabad
24 Jun, 2026

Updating Islamabad

ISLAMABAD is growing rapidly. Its planning, however, remains stuck in bureaucratic limbo. Despite years of ...
Unsustainable growth
Updated 23 Jun, 2026

Unsustainable growth

CLICHÉS are an essential part of political rhetoric. But when repeated often, they lose their impact. So when...
Banned speeches
23 Jun, 2026

Banned speeches

NATIONAL Assembly Speaker Ayaz Sadiq on Sunday formally lifted long-standing restrictions on the airing of ...
New GB government
23 Jun, 2026

New GB government

WITH the newly elected lawmakers of the Gilgit-Baltistan Assembly taking oath on Monday, the PPP looks set to head...