‘Investor-Friendly’ Budget: Aurangzeb defends technical reforms, points to agri-credit support

WEB DESK: The federal government’s newly unveiled budget heavily prioritises digitisation, agricultural expansion, and industrial enforcement to stabilise the economy while extending targeted relief to the country’s lower-middle class, key cabinet members revealed on Saturday.

Detailing the fiscal roadmap at a post-budget press conference Federal Minister for Finance and Revenue Muhammad Aurangzeb framed the plan as a crucial step towards structural transparency.

A major cornerstone of his strategy involves deepening the tax net through digital monitoring, automation, and artificial intelligence, which he noted would significantly reduce human intervention within the Federal Board of Revenue (FBR) and curb corruption.

Aurangzeb says budget focuses on growth, exports and tax relief

Finance Minister Muhammad Aurangzeb said the government would now move from economic stabilisation towards sustainable growth, stressing that the budget prioritised exports, tax reforms and business-friendly measures.

He said Prime Minister Shehbaz Sharif had directed the government to abolish the super tax for all exporters, while an additional Rs70b in subsidies had also been provided.

The government is successfully moving from economic stabilization toward sustainable growth by prioritizing exports, tax reforms, and business-friendly measures. A major cornerstone of this strategy involves deepening the tax net through digital monitoring, automation, and artificial intelligence, which will significantly reduce human intervention within the FBR and curb corruption.

He highlighted the importance of the construction and agriculture sectors in driving economic growth, noting that agricultural lending had exceeded Rs2tri and that substantial measures had been introduced to support farmers.

The finance minister also pointed to tax relief for salaried individuals, including a reduction in the lowest income tax slab from five per cent to onepc and a cut in another slab from 15pc to 13pc.

He added that chambers of commerce across the country had responded positively to the budget, which was designed to support businesses and economic activity, while Rs262b had been allocated under the Prime Minister’s loan programme, including Rs125b earmarked for agriculture.

Tarar praises relief measures, economic reforms

Federal Minister for Information and Broadcasting Attaullah Tarar hailed the federal budget as a people-centric financial plan, saying Prime Minister Shehbaz Sharif’s economic team had achieved what many considered impossible under challenging circumstances.

He said the budget offered relief to salaried individuals, provided tax incentives to the middle class in the real estate sector, and introduced the “Apna Ghar” housing scheme for low-income families.

This is a people-centric financial plan, and the Prime Minister’s economic team has achieved what many considered impossible under incredibly challenging circumstances. By digitalizing the Federal Board of Revenue and expanding economic documentation through a cashless economy, we have strengthened transparency and secured macroeconomic stability at a time when critics predicted a sovereign default.

Tarar also commended the government’s efforts to digitalise the Federal Board of Revenue (FBR) and expand economic documentation through a cashless economy, arguing that these measures had strengthened transparency and contributed to macroeconomic stability at a time when critics had predicted a sovereign default.

Kiyani says budget aimed at easing burden on citizens

Minister of State for Finance Bilal Azhar Kiyani described the federal budget as a “people’s budget”, saying it had been designed to provide relief across multiple sectors, including salaried employees, the construction industry and businesses.

He said the government’s foremost priority, under Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb, had been to reduce the tax burden on the salaried class, adding that meaningful relief had been provided in the current fiscal plan.

This is a true ‘people’s budget’ designed to provide immediate relief across multiple sectors, including salaried employees, the construction industry, and local businesses. The government has taken practical, decisive steps to reduce taxation and fulfill our commitments to the public, rather than merely making empty promises.

Kiyani also said the budget fulfilled commitments made to the public and responded to long-standing demands from industrialists and exporters regarding the super tax, arguing that the government had taken practical steps to reduce taxation rather than merely making promises.