Finance Minister Muhammad Aurangzeb emphasized the need for everyone to contribute to the tax net for a sustainable economy during his recent budget speech. With a total outlay of Rs18.9 trillion, the budget aligns with IMF guidelines to secure a bailout.
Aurangzeb highlighted the importance of improving the tax-to-GDP ratio by broadening the tax net, rather than burdening specific sectors. He mentioned government efforts to digitize the tax system to eliminate harassment and build trust among taxpayers.
The minister assured protection for the salaried class and emphasized the government’s commitment to health, education, agriculture, and fairness in taxation. Measures targeting non-filers were also discussed to increase revenue and accountability.
Overall, Aurangzeb expressed confidence in meeting budget targets and stressed the significance of every individual contributing to the country’s progress. The budget aims to create a more inclusive and sustainable financial system for Pakistan’s future.