Islamabad: Finance Minister Muhammad Aurangzeb has declared that the federal budget for 2026-27 will be crucial in advancing the country's economic growth. Addressing a post-budget news conference in Islamabad, he was joined by Minister for Information and Broadcasting Attaullah Tarar and Minister of State for Finance Bilal Azhar Kayani.

According to Radio Pakistan, the Finance Minister expressed satisfaction with the positive reception of the budget from different sectors, indicating growing confidence in the country's path to economic development. He emphasized the efforts made to utilize fiscal resources for growth, highlighting measures to foster an export-led growth environment. This includes decisions related to super tax and advance tax, and an expansion of the Export Refinance Scheme to ensure exporters have access to financing at 4.5 percent.

Aurangzeb reiterated the government's commitment to reducing costs for intermediate goods and raw materials to boost export competitiveness. He also emphasized the focus on the agriculture sector, noting that agri-financing has surpassed two trillion rupees, with the abolition of custom duties on agri equipment imports to promote mechanization and productivity.

The Finance Minister outlined tax relief efforts for the salaried class and the construction sector and discussed plans to deepen the tax net through automation and artificial intelligence to enhance transparency and efficiency in tax administration.

Information Minister Attaullah Tarar described the budget as inclusive and relief-oriented, highlighting the Prime Minister's commitment to providing relief to various societal segments. He noted the international recognition of the country's macro-economic stability and termed reforms in the Federal Board of Revenue as historic.

Special funds have been designated for educational institutions in underdeveloped areas, and Minister of State for Finance Bilal Azhar Kayani described the budget as pro-people, benefiting the salaried class, industrialists, exporters, and the construction sector.

In response to a query, Finance Minister Aurangzeb clarified that the petroleum levy remains unchanged. Finance Secretary Imdad Ullah Bosal added that ad hoc relief allowances from 2022 and 2025 have been merged into the basic pay, with a seven percent salary increase following the merger.