Budget preparations commence in consultation with traders: Aurangzeb

LAHORE: Federal Finance Minister Muhammad Aurangzeb on Sunday said that economic stability has been achieved and the country’s economy is now on a trajectory of growth.

Speaking to the media in Lahore, the finance minister stated that preparations for the upcoming budget had commenced, with consultations underway with the business community to ensure a balanced and inclusive approach.

Aurangzeb expressed confidence in the economic outlook, highlighting improvements in key financial indicators.

“The stock market is in a good position, currency stability has been achieved, and foreign exchange reserves have increased,” he remarked.

Salaried individuals: Aurangzeb signals possible tax slab overhaul

He further stated that reforms in the Federal Board of Revenue (FBR) were in progress, aimed at making the tax system more efficient and acceptable to the public.

“The manufacturing sector and salaried class have borne the brunt of taxation, and now all sectors must contribute their fair share to the economy,” he added.

The finance minister reiterated that sustained economic growth was a priority, and the government was committed to ensuring policy continuity to support the private sector. “The real progress will come from the private sector, and we must provide them with a conducive policy framework,” he noted.

Aurangzeb also dismissed concerns over overseas Pakistanis’ sentiments, saying that during his recent visits to Saudi Arabia, Dubai, and Washington, he observed no discontent among expatriates.

“We are grateful for their contributions, and we expect remittances to reach $35 billion this year,” he said.

He also pointed out the steady increase in the Roshan Digital Account, a key initiative to attract foreign investments from Pakistanis abroad.

Commenting on sports, the finance minister expressed his full support for the national cricket team, commending their performance.

“The team played with determination, and we extend our best wishes to them,” he stated.