Minister of State for Finance and Head of the Prime Minister's Delivery Unit (PMDU), Mr. Bilal Azhar Kayani, today addressed the National Assembly, announcing key economic achievements and reforms aimed at protecting citizens and businesses.
Minister Kayani declared that arrests at the inquiry stage in sales tax cases will no longer occur. Acting on Prime Minister Shehbaz Sharif’s directives to address business community concerns, the government has amended arrest clauses in sales tax laws based on recommendations from Farooq H. Naik and the Standing Committee. Key changes include no arrests for sales tax fraud below ?50 million. Mandatory approval from a 3-member FBR committee before any arrest, ensuring citizen protection. Individuals accused of sales tax fraud will now be guaranteed a right to hearing. The discretionary arrest powers previously held by tax officials have been revoked.
Highlighting the government’s performance in Fiscal Year 2024-25, Kayani stated that economic stability was achieved while fulfilling IMF conditions and simultaneously providing public relief. The National Tariff Policy will be a cornerstone of PM Shehbaz Sharif’s vision to boost exports and drive economic growth. The current IMF program will be Pakistan’s "last", once the economy achieves sustainable growth and becomes self-reliant through dollar-earning exports. Learning from past "boom and bust cycles," the government remains committed to providing relief "within our means.
He further stated that Inflation reduced from an expected 12% to 4.7%, with the monthly rate falling to 0.4%. Policy rate cut from 22% to 11% to stimulate economic activity. Salary increase of 10% for government employees. Income tax reduced for salaried classes.
State minister Bilal Azhar in NA session said that the BISP budget increased from ?592 billion to ?716 billion, enabling support for 1 crore (10 million) deserving families despite economic constraints. Proposal to reduce income tax from 5% to 1% for individuals earning between ?600,000 to ?1.2 million annually.
Measures are underway to reduce prices of raw materials and machinery to support local industry.
Minister Kayani credited Pakistan’s economic success to divine assistance and national unity: "In the firm fortress of faith, our armed forces and people achieved victory with Allah’s help. During Indian aggression, we succeeded in the IMF Board through divine grace and the government’s exceptional economic management.
*-*-*-*-*
