Finance Minister Muhammad Aurangzeb held a post-budget press conference in Islamabad after journalists walked out in protest. The reporters protested because the Federal Board of Revenue did not give them a technical briefing on the Finance Bill 2025. Despite the walkout, Aurangzeb continued the conference with some journalists present, flanked by senior officials.
Aurangzeb highlighted the key tariff reforms in the National Tariff Policy. He said customs duties were removed on four tariff lines and reduced on 2,700 lines, mostly linked to raw materials. He stressed these changes are just for the upcoming year, with more reductions planned later to help exporters.
The minister spoke about relief measures for the salaried class, explaining the government gave relief as much as possible within fiscal limits. He also announced a 0.5 percent cut in super tax for the corporate sector. Aurangzeb addressed property market changes, emphasizing support for buyers through mortgage financing.
He talked about agriculture, saying the government avoided taxing critical inputs like fertilizers after talks with the IMF, following Prime Minister Shehbaz Sharif’s guidance. Aurangzeb said enforcing tax laws is key to raising revenue, with enforcement efforts already raising over Rs400 billion. He underlined the importance of reducing middlemen and increasing small farmers’ financing.
Finally, Aurangzeb defended budget decisions, including a carbon levy on fuels and new taxes on pensions and solar panels. He said inflation benchmarks will guide salary and pension increases. Overall, he presented the budget as a balanced effort to support growth while meeting IMF conditions.