The National Assembly witnessed Finance Minister Muhammad Aurangzeb’s announcement that next year’s fiscal budget will prioritize reducing the fiscal deficit through revenue enhancement and reducing unnecessary expenditures. Aurangzeb presented the budget on June 12, with the lower house of parliament deliberating over it for the upcoming fiscal year.
Despite initial reservations, the PPP decided to support the budget bill, emphasizing the importance of stability in the country. Criticism from MQM-P members highlighted concerns over taxes impacting the middle-class and causing inflation.
PTI leader Asad Qaiser and JUI-F chief Maulana Fazlur Rehman rejected the proposed budget as “IMF” and “anti-people.” FM Aurangzeb aims to steer the country out of economic challenges with reforms encompassing taxes, SOE, and energy sector reform.
The budget also prioritizes agriculture, education, and health sectors, with exemptions in place to support local suppliers and charity hospitals. Overall, the government is committed to implementing reforms to strengthen the economy and ensure national security.
With various initiatives in place, including accelerated digitization and FBR reforms, the budget aims to address key economic issues and support essential sectors.