Federal Minister for Information Attaullah Tarar has described the budget for the next fiscal year as “relief-based” and said that the government has introduced tax reforms and relief measures in various sectors after economic stabilization.
In a media briefing in Islamabad along with Minister of State for Finance Bilal Azhar Kayani, he said that the government inherited economic challenges at a time when the economy was under severe pressure.
According to him, in the last two years, the government has taken steps for economic stabilization and now public relief is being provided according to the financial capacity.
The Information Minister described reforms in the Federal Board of Revenue (FBR) as a central part of the government’s tax policy. According to him, tax collection has been improved through digitisation, merit-based recruitment and automated systems in the institution.
He said that the use of technology has been increased to prevent tax evasion in various industrial sectors, including the sugar industry, tobacco, cement and beverages.
According to government figures, around Rs 60 billion was recovered from sugar mills, while curbing illegal trade in the tobacco sector eliminated a potential leakage of Rs 200 billion.
According to officials, a total of Rs 800 billion was recovered last year through enforcement measures, which are separate from the formal IMF programme.
The briefing said that the government has reduced the tax slab for the salaried class, while the tax burden on low-income earners has been further reduced.
Facilities have also been announced in the housing sector, especially tax cuts for buyers of five to ten marla houses.
The government has released Rs 90 billion under the “Apna Ghar” scheme, which aims to promote housing facilities for low and middle-income earners.
According to experts, these measures are part of a budget that has tried to strike a balance between increasing revenue and providing public relief.
