Islamabad: Minister of State for Finance, Bilal Azhar Kayani, has announced that the budget for the upcoming financial year aims to consolidate economic gains, provide relief to the population, and continue the journey of reforms. Addressing the National Assembly during a budget discussion for the next fiscal year, he stated that the government’s target is to make the current IMF program the last one, achievable through enhanced exports and inclusive, sustainable economic growth.
According to Radio Pakistan, Kayani highlighted that a critical aspect of the next year’s budget is tariff reforms intended to enhance industrial productivity. He noted an increased allocation for the Benazir Income Support Program from 592 billion rupees to 716 billion rupees. Additionally, government employees’ salaries have been raised by ten percent, with a seven percent increase in pensions for retired employees. The salaried class has also been granted tax relief, as promised by Prime Minister Shehbaz Sharif.
New safeguards are being introduced for arrests in tax fraud cases, with no arrests during the inquiry stage, and during the investigation, only in cases of sales tax fraud exceeding fifty million rupees, and with approval from a three-member FBR committee. Nafeesa Shah, participating in the budget discussion, stressed the need for support to the agriculture sector.
Minister for Religious Affairs, Sardar Muhammad Yousaf, described the budget as balanced, crediting improvement to difficult government decisions. He noted that over one hundred and fifteen thousand Pakistani pilgrims performed Hajj this year, with Saudi Arabia awarding Pakistan for excellent arrangements. The process for next year’s Hajj arrangements has started, adhering to Saudi guidelines.
Junaid Akbar Khan criticized the budget for lacking provisions for the people, highlighting sacrifices made by Khyber Pakhtunkhwa in the war on terrorism. Syed Rafiullah urged a review of family pension reforms, emphasizing no limitations for spouses and disabled children. Sahibzada Hamid Raza pointed out neglect in health and education sectors.
Minister for Board of Investment, Qaiser Ahmed Sheikh, reported improved economic indicators, reduced inflation, and increased remittances. Efforts are underway to attract investment, particularly in Special Economic Zones, with a call for political unity on a Charter of Economy to encourage investors.
Minister for Public Affairs Unit, Rana Mubashir Iqbal, announced a 100 billion rupees allocation for road infrastructure in Balochistan, with 250 billion rupees set aside for the province. Funds are also reserved for dams, agriculture, livestock, higher education, health, mining, energy, and other sectors. Murtaza Mahmud praised the government’s economic stability efforts.
Pullain Baloch called for reduced tax burdens on people, while Saba Talpur advocated for farmer support and reduced prices of seeds, fertilizers, and pesticides. Minister of State for Religious Affairs and Interfaith Harmony, Kesoo Mal Kheal Das, mentioned no taxes on the agriculture sector and urged joint efforts for national progress. He assured government commitment to completing the Sukkur-Karachi motorway, emphasizing PML-N’s commitment to the prosperity of all provinces.
Additional speakers included Mian Fayyaz Hussain, Azim-ud-Din Zahid, Muhammad Shaharyar Khan Mahar, Raja Osama Sarwar, Noor Alam Khan, Farah Naz Akbar, Zulfiqar Ali, and Zahra Wadood Fatemi. The House will reconvene on Monday at eleven in the morning.