Islamabad, June 10, 2025: Finance Minister Muhammad Aurangzeb has shared some positive updates about the country’s economy and fiscal improvements. He announced that the Pakistani Rupee has become more stable and Pakistanis living abroad have sent home a record remittance of $31.2 billion.
Looking ahead, the Finance Minister expressed confidence that foreign exchange reserves are expected to reach $14 billion this year.
FBR has also collected a strong $78.4 billion in taxes. This performance is accompanied by a notable policy shift in the industrial sector, where the cost of electricity has been reduced by over 31%. This measure is likely aimed at boosting industrial output and competitiveness.
A significant development highlighted is the renegotiation of agreements with independent power producers (IPPs). This strategic move is expected to generate savings exceeding 3 trillion rupees for the national exchequer that can be used for other important projects.
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The inflation rate has reportedly dropped to 4.7%. Furthermore, the sugar industry has also demonstrated strong growth in its contribution to state revenues, showing a 47% increase.
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The federal government is also working on measures of tax collections. The Finance Minister revealed that around 390,000 people aren’t filing their taxes. Additionally, measures to curb fraudulent claims have been successful, as authorities have stopped $9.8 billion in fake tax refund claims.
Finally, the Finance Minister made it clear that there will be no new taxes or a “mini-budget” which reassured people that the government isn’t planning to add more financial burdens.
