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Print Print 2025-04-12

Budget FY26: Relief for salaried people, cut in power rates likely

  • Finance Minister Muhammad Aurangzeb says efforts under way to lower power bills by July, or earlier
Published April 12, 2025

ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb said on Thursday said that the upcoming federal budget will bring relief for salaried individuals and further reductions in electricity costs.

He was talking to media after attending inauguration ceremony of the Made in Gujranwala Exhibition, being organised by the Gujranwala Chamber of Commerce and Industry.

The finance minister announced that a detailed relief plan for the salaried class has been finalised and will be shared with the International Monetary Fund (IMF). He added that efforts are under way to lower power bills by July, or earlier.

FY26 budget: salaried class urges govt to raise tax exemption limit to Rs1.2 million

Aurangzeb stated that all IMF targets have been met, and the fund’s Executive Board is expected to approve the staff-level agreement in May.

Pakistan is also anticipating the release of the next $1 billion loan tranche, along with additional climate financing.

The finance minister noted that 98 per cent of budget proposals from the public and private sectors have been received, and relevant stakeholders will be informed about which suggestions are feasible before the budget is tabled in parliament.

PM Shehbaz unveils Rs7.41 per unit electricity rate cut to boost ailing economy

He clarified that the budget will be implemented in its final form from July 1, without post-approval changes, to ensure swift execution.

Aurangzeb also commented on tax reforms, saying that although tax collection from traders has improved, the trader-friendly scheme should not be linked to revenue collection. A simplified tax return form is being developed for general use, and tax policy will now fall directly under the Ministry of Finance.

Copyright Business Recorder, 2025

Comments

200 characters
kumail hussain Apr 12, 2025 09:14am
I request to gov that cut tariff to Rs 20 per unit for non protected residential consumer using between 200 to 300 units specially in summer to provide relief to middle class people.
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KU Apr 12, 2025 09:25am
Why doesn't relief focus on raise in salaries/wages across sectors? Elected representatives n public servants award themselves with salary raise but subjects suffer.
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Maqbool Apr 12, 2025 10:32am
Bijli discount down from Rs 7.41 to. Rs 1.71 . “ The Power Division has issued a notification announcing a reduction of Rs1.71 per unit in electricity prices for consumers across the country””
thumb_up Recommended (0) reply Reply
Khalid Janjua Apr 12, 2025 03:45pm
Is it election season already?
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