ISLAMABAD: Finance Minister Muhammad Aurangzeb concluded the general debate on the federal budget in the National Assembly on Saturday, vigorously defending the government’s fiscal figures and presenting key economic performance goals. He also emphasized Pakistan’s significant role in facilitating improved relations between Iran and the United States.
During the session, lawmakers Dr Azeemuddin Zahid and Khawaja Shehzad filed a privilege motion accusing the finance minister of presenting inaccurate statistics in his budget speech. Responding directly on the floor, Aurangzeb expressed a preference for raising such concerns during the debate itself rather than through formal motions. He firmly stated that there had been no alterations in the national accounts or macroeconomic indicators.
On the economic front, Aurangzeb outlined that Pakistan is on course to achieve critical targets, including $41 billion in remittances and $4.5 billion in IT exports. He stressed that the government is prioritizing the expansion of the tax base instead of imposing additional burdens on salaried workers, with ongoing efforts to bring retailers into the tax system.
The finance minister also highlighted reforms within the Federal Board of Revenue (FBR), noting that enhanced oversight and strategic policy direction have contributed to generating an additional $14 billion in revenue over the last two years.
Describing agriculture as the economy’s backbone, Aurangzeb announced extensive relief measures. These include collateral-free loans up to Rs300 billion aimed at benefiting approximately 750,000 small farmers, as well as Rs109 billion allocated for youth-focused agriculture and business financing programs.
He further revealed subsidies and budgetary provisions to stabilize fertiliser prices, with Rs10 billion dedicated to urea support, Rs15.8 billion for input price stabilization, and Rs9.5 billion for agricultural credit relief. Additionally, import duties on essential agricultural machinery such as tractors, harvesters, pumps, and spare parts have been reduced or eliminated to lower costs for farmers.
In a significant diplomatic update, Aurangzeb stated that Pakistan’s efforts in easing tensions between Iran and the United States have enhanced the country’s international reputation. “The clouds of war have cleared and the dove of peace is flying,” he remarked, attributing the breakthrough to coordinated diplomatic initiatives.
He commended Prime Minister Shehbaz Sharif and Field Marshal Asim Munir for their leadership, while also recognizing the contributions of opposition leader Mahmood Achakzai, parliamentary committees, and coalition partners including Nawaz Sharif and Bilawal Bhutto Zardari.
Aurangzeb concluded by emphasizing that the diplomatic agreement has elevated Pakistan’s global standing and underscored the importance of dialogue over conflict.
