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Tuesday, February 18, 2025

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Govt to Stay Firm on IMF Commitments, Hints at Tax Relief for Salaried Class: Aurangzeb

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.

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