Aurangzeb hints at tax reduction for salaried class
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LAHORE: Finance Minister Muhammad Aurangzeb on Sunday admitted that there was a massive tax burden on the salaried class and indicated that the government may provide some relief to them.
Talking to the media on Sunday, he said the taxation system had improved, adding that the government would think about reducing the tax burden on the salaried class in the upcoming budget.
“There is also improvement in the taxation on the real state,” he said, adding that the government would not allow any kind of gambling in the real estate sector.
“We will not allow gambling in the real estate sector as it is not good for economy,” he said. “We are working to support the construction industry. The country is economically stable now and the stock exchange is performing better.”
The minister was of the view that overseas Pakistanis did not have any problem with the system as is evident from the foreign remittances that have been increasing gradually. “I have visited Saudi Arabia, Dubai and the United States, and met overseas Pakistanis and they are not annoyed.”
Finance minister says ‘gambling’ in real estate sector must be stopped
Responding to questions, Mr Aurangzeb said that the currency is stable whereas the policy rate has been reduced. “Our foundation has stabilised and it’s aiming to go for sustainable growth.”
The minister pointed out that the government had started meetings with different business groups in a bid to get their input in the preparation of the next budget.
The minister highlighted positive economic indicators, including a rise in remittance senders and an increase in the Roshan Digital Account inflows.
Meeting with traders
Earlier, the finance minister called for closer collaboration between the government and the private sector to achieve sustainability in the economic growth.
Speaking at a Faisalabad Chamber of Commerce and Industry event, he highlighted the stock market’s performance, which has reached record high.
He noted that public trust in the taxation system is being restored through reforms introduced in the Federal Board of Revenue. PM Shehbaz was directly overseeing these reforms to ensure their implementation.
Mr Aurangzeb stressed the importance of broadening the tax base to alleviate pressure on the exchequer.
With input from PPI
Published in Dawn, February 24th, 2025
Khalid Hasnain is a Lahore-based reporter for Dawn. His reporting focuses on Pakistan Railways, Lahore’s civic affairs, and the energy and power sector. He can be found on X at @KhalidHasnain10
