Finance Minister Muhammad Aurangzeb has described the budget for the next financial year as balanced, emphasizing that measures have been taken to pave the way for inclusive and sustainable economic growth.
Winding up the discussion on the Federal Budget 2025-26 in the National Assembly today, he highlighted the revisions made to the budgetary proposals.
The Finance Minister said the government is cognizant of tax burden on salaried class. He said it has been decided to take one percent tax from those earning between six hundred thousand rupees and 1.2 million rupees. He said sales tax on imported solar panels is being reduced from eighteen percent to ten percent.
He said that the powers of FBR have also been reviewed to avoid the misuse of authority. He said the FBR cannot arrest a person in cases up to fifty million rupees without judicial warrant.
Muhammad Aurangzeb presented three new measures aimed at meeting the revenue shortfall. He stated that effort has been made to ensure that only the affluent class falls within their scope. Federal Exercise duty at the rate of ten rupees has been imposed on one-day old chicken and rates have been increased on companies’ investment in mutual funds and earnings from investment in government securities.
