Prime Minister Shehbaz Sharif raised concerns over the lack of tax contributions from Pakistan’s wealthy elite, just before the federal cabinet approved the budget for Fiscal Year 2025-26. Speaking at a cabinet meeting in Islamabad, he acknowledged the sacrifices made by the salaried class, which contributed Rs400 billion to the national treasury, and challenged the affluent to justify their comparatively minimal input.
“The salaried class has carried a heavy burden, while the elite must answer what they have given in return—this includes me,” PM Shehbaz stated. Finance Minister Muhammad Aurangzeb is set to present the budget today in the National Assembly, with expectations of relief for salaried individuals.
The government is reportedly proposing a Rs17.6 trillion budget, a 6.7% reduction from the previous year, aiming to cut the fiscal deficit to 4.8% of GDP. Key reforms include expanding the tax net, enforcing agricultural income tax, and reducing industrial subsidies—conditions tied to Pakistan’s $7 billion IMF program.