——– Informs Pakistan has met all required targets set by IMF
——– Adds public, private sectors “submitted” budget recommendations
——– Says simple form to be introduced for taxpayers
——– Asserts relief programme for salaried class to be included in the next federal budget
By Anzal Amin
ISLAMABAD: As part of a larger effort to provide economic assistance to the masses, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb disclosed that the government is actively trying to further reduce power bills by July or earlier.
Aurangzeb, talking to media, said that a comprehensive relief programme for the salaried class has been created and will be included in the next federal budget. He did not, however, go into specifics, saying that as part of continuing discussions, the International Monetary Fund (IMF) will be first informed about it. The finance czar said the public and private sectors have already submitted almost 98% of the budget recommendations, media reported.
He emphasised that the preparation of the budget is being carried out in close coordination between the government and private stakeholders. Relevant parties will be informed beforehand regarding which of their proposals will be incorporated into the budget, he added.
The minister assured that explanations would also be provided for proposals that could not be implemented. “By July 1, the budget will be enforced in its final form. After that, no changes will be made to ensure timely and effective implementation,” he clarified. He expressed the hope that the IMF Executive Board will approve the staff-level agreement by May, adding that Pakistan has met all required targets set by the IMF, despite minor delays in some areas. “Those delayed targets have also been fulfilled,” he affirmed.
Regarding taxation, the finance minister said tax collection from traders has improved and urged that the trader-friendly scheme should not be directly linked to tax collection outcomes.
He announced that the Tax Policy Division will begin functioning under the Finance Ministry later this calendar year, aiming for better coordination and policy implementation.
He also said that such a form was being introduced that a taxpayer could himself fill without needing any assistance.
