ISLAMABAD: Finance Minister Mohammad Aurangzeb reaffirmed on Tuesday that the government will adhere strictly to its commitments under the $7 billion Extended Fund Facility (EFF) with the IMF, while also hinting at possible tax relief for the salaried class in the upcoming budget.
Key Highlights from the Finance Minister’s Address:
Commitment to IMF: The government will not deviate from IMF conditions, though some measures may be phased in or out in Budget 2025-26.
Simplifying Tax Filing: The government aims to make the tax filing process easier for the salaried class.
Economic Stabilisation & Growth: While stabilisation has been achieved, transitioning to sustained economic growth requires structural reforms to avoid future crises.
Foreign Reserves Milestone: The State Bank of Pakistan is on track to achieve $13 billion in forex reserves by the end of this fiscal year, a significant milestone for economic stability.
Rightsizing Government: The government has merged or abolished several ministries and is eliminating 150,000 vacant posts, with 30,000+ already removed.
Aurangzeb made these remarks at a “Dialogue on the Economy” event, organised by the Pakistan Business Council in Islamabad.
The finance minister’s comments signal a balanced approach—staying firm on IMF commitments while addressing public concerns about taxation and governance efficiency.