Speaking in Islamabad, Aurangzeb said that out of a total of 7,000 tariff lines, 4,000 have been brought down to zero. He added that these tariff reforms are expected to boost the country’s exports.
Earlier, the finance minister arrived for the briefing accompanied by the Finance Secretary and the Chairman of the Federal Board of Revenue (FBR). However, journalists boycotted the press conference in protest over the absence of a technical briefing on the budget.
Reporters noted that for the past 20 years, it has been standard practice to provide a technical briefing to journalists following the budget. This year, they said, the government broke that tradition.
Later, the finance minister instructed relevant officials to persuade the journalists to return.
Federal Budget 2025
In line with the International Monetary Fund’s (IMF) conditions for fiscal consolidation, Finance Minister Muhammad Aurangzeb maintained a firm stance in the federal budget for 2025–26.
Despite this, he extended limited relief to the salaried class and offered incentives aimed at the real estate and construction sectors, seeking to revive industrial activity and spur economic growth.
However, the government also unveiled several new revenue measures. A carbon levy of Rs2.5 per litre will be applied to petrol, diesel, and furnace oil starting next fiscal year, with plans to double it the following year.
Other tax measures include a 5 per cent levy on large pensions, an 18 per cent tax on imported solar panels, and an increased surcharge on electricity bills to cover both interest and principal debt repayments. Furthermore, the government announced it would begin phasing out tax exemptions currently granted to tribal areas.