KARACHI: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said the government provided as much relief as possible to the salaried class in the Federal Budget 2026–27, while reaffirming its commitment to tax reforms and economic stability.
Addressing a ceremony in Karachi, the finance minister said Pakistan’s foreign exchange reserves have reached approximately $18.5 billion, adding that the government has also successfully issued a Panda Bond as part of its efforts to strengthen external financing.
Relief for Salaried Class
Responding to concerns about taxation, Aurangzeb said the government had extended the maximum relief it could afford to salaried individuals in the current budget.
He also announced that the government’s Medium-Term Tax Policy would be developed in consultation with stakeholders to ensure a more predictable and transparent taxation framework.
Focus on Tax Reforms
The finance minister said the government remains focused on eliminating corruption and simplifying the tax system to improve compliance and facilitate businesses.
He added that expanding trade with other countries remains one of Pakistan’s key economic objectives.
Commenting on the National Finance Commission (NFC) Award, Aurangzeb said discussions are ongoing and appreciated the cooperation extended by the provincial governments.
Digital Economy and Banking Reforms
Speaking at the same event, Minister of State for Finance Bilal Azhar Kayani said the government is taking effective measures to promote a modern, transparent, and robust banking system.
He noted that reforms in the financial sector would strengthen business activity and contribute to greater economic stability.
Kayani also highlighted the government’s efforts to promote Pakistan’s digital economy, saying the increasing use of technology in the banking sector is making financial services more accessible and convenient for the public.
While acknowledging the progress made so far, he said Prime Minister Shehbaz Sharif is committed to further improving the country’s financial and digital infrastructure.
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