The Federal Minister for Finance Muhammad Aurangzeb and State Minister Bilal Azhar Kayani announced a fixed tax scheme for small businesses. According to the details, the government announced this scheme after consulting small traders in the country.
The Finance Minister said that the traders who have an income of less than 20 crore per year will be eligible for the announced scheme. Muhammad Aurangzeb said that taxpayers wanted tax relief.
The finance minister also said that the government’s policy is focused on reducing tax rates rather than increasing them in order to ease the burden on existing taxpayers.
Speaking at a press conference, the finance minister said that small shopkeepers were consulted before finalising the proposed scheme, ensuring that their concerns and suggestions were taken into account.
Discussing the country’s economic situation, Muhammad Aurangzeb said Pakistan had addressed its economic challenges through its own resources and had not relied on external assistance. He noted that the country maintained economic stability despite facing severe floods last year.
The finance minister added that Pakistan’s economy remained resilient despite tensions in the Middle East and various global economic pressures. He said the government is now concentrating on broadening the tax base by bringing more people into the tax system rather than placing additional burdens on those who already pay taxes.
Aurangzeb emphasised that expanding the tax net is essential for strengthening the national economy, increasing revenue collection, and ensuring sustainable economic growth in the years ahead.
Also Read, Budget 2026–27 timeline finally revealed
Earlier, the government released a schedule for the federal budget 26-27, confirming that the budget will be presented on June 10.
According to the schedule, the government will outline its financial priorities, economic policies, and overall strategy for the upcoming fiscal year in the budget document.
The Pakistan Economic Survey will be released on June 9, a day before the budget. The survey will provide a detailed review of the country’s economic performance during the current fiscal year, including growth across key sectors, major economic indicators, and the results of government policies.
