'Budget relief limited by IMF commitments'

Minister of State for Finance Bilal Azhar Kayani has said the government intends to reduce the tax burden on the salaried class in the upcoming budget, but limited fiscal space under the International Monetary Fund (IMF) programme restricts major relief, according to a statement issued on Saturday.

Speaking at a pre?budget seminar at the Rawalpindi Chamber of Commerce and Industry (RCCI), Kayani said the budget is expected in the first week of June. He assured zero tolerance for harassment by tax authorities.

Over the past two years, the government has achieved economic stability through fiscal discipline, improving foreign exchange reserves and restoring confidence among international financial institutions. Despite regional conflicts, the rupee remained stable and Pakistan did not face fuel shortages, he added.

Kayani said increasing exports and strengthening the economy are top priorities so that Pakistan can eventually move away from dependence on IMF programmes. Special measures are being introduced for small and medium enterprises, and the utilisation period for imported goods by small exporters has been extended to 18 months.

On privatisation, the minister said the process is progressing rapidly. The privatisation of Pakistan International Airlines (PIA) has been completed, and three power distribution companies are currently being privatised.