ISLAMABAD – Finance Minister Muhammad Aurangzeb has said that Pakistan’s economy is moving in the right direction and transitioning from economic stability toward growth.
Addressing a post-budget press conference, Aurangzeb stated that the government had previously outlined its goal of moving from stabilization to sustainable economic expansion and said the country has now embarked on that journey.
He added that the federal budget includes measures aimed at strengthening exports and improving the tax system.
The finance minister said an additional subsidy of Rs70 billion has been allocated to support economic activity, while efforts have also been made to facilitate key sectors. He noted that there was broad agreement, including from Prime Minister Shehbaz Sharif, on eliminating the super tax for exporters.
Aurangzeb further highlighted several initiatives announced in the budget, including a fertility support scheme for small farmers, the removal of customs and regulatory duties on agricultural machinery and equipment, and allocations for the Prime Minister’s Youth Loan Programme. He also stressed the importance of the construction sector in driving economic growth.
Speaking at the same press conference, Minister of State for Finance Bilal Azhar Kayani described the budget as one designed to support salaried individuals, industrialists and exporters. He said the government had provided relief to the salaried class despite limited financial resources.
Information Minister Attaullah Tarar said the budget fulfills commitments made by the government to provide public relief. He highlighted reforms within the Federal Board of Revenue (FBR), measures for middle- and low-income groups, and efforts to digitize tax administration. Tarar said the country had achieved macroeconomic stability after overcoming significant economic challenges and described the budget as a comprehensive relief-oriented document.
