ISLAMABAD, June 27 (TNF): Parliament on Thursday approved the Finance Bill 2025, officially passing the Rs17.57 trillion federal budget for the upcoming fiscal year.
According to Dawn News, the bill presented by Finance Minister Muhammad Aurangzeb, was adopted after a detailed clause-by-clause reading, during which all amendments proposed by the opposition were rejected. The ruling coalition secured approval for amendments to various laws, including the Income Tax Ordinance 2001 and the Sales Tax Act 1990.
One of the key changes in the Sales Tax Act empowers the finance committee to order the arrest of traders involved in tax fraud exceeding Rs50 million, while limiting the Federal Board of Revenue’s (FBR) arrest powers during investigations. PPP Chairman Bilawal Bhutto Zardari voiced satisfaction that his party’s proposals had been accepted, including enhancements to the Benazir Income Support Programme (BISP), relief on solar taxes, and protection for salaried individuals earning up to Rs1.2 million annually.
The federal budget, with its Rs17.573 trillion outlay, represents a 6.9 percent decrease compared to the previous year, with Rs16,286 billion allocated for current expenditure — down 5.33 percent from the prior budget.
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