The budget has proposed changes to tax slabs for the salaried class as reduction in the tax is under consideration for individuals earning between Rs1.2 million and Rs2.2 million annually.
Sources divulged on Friday that relief has also been proposed for salaried persons drawing monthly incomes of Rs100,000, Rs200,000 and Rs300,000.
A working paper has been prepared to extend relief for those with an annual salary of Rs3.6 million. For individuals earning Rs10 million or above per year, the removal of a 10 per cent surcharge has been suggested.
It is proposed that tax slabs for the salaried class be increased from six to eight. Final approval will remain subject to the federal cabinet.
In the same fiscal framework, more than Rs1,100 billion is likely to be allocated for pensions. A proposal has also been placed to set aside Rs838 billion for the Benazir Income Support Programme (BISP), along with an increase in quarterly stipends for eligible beneficiaries.
