The federal government is going to table the budget for 2025-26 in the first week of June, and there is good news for the salaried class.

Media reports suggest that the Ministry of Finance has sought a pre-Eid budget session because of the Eid-ul-Adha holidays approaching, and the budget could even be tabled prior to June 5. The process of approval is likely to start immediately after the Eid break.

Sources reveal that the government has already started working on the new budget and is considering relief measures for salaried individuals. One of the key proposals from the FBR suggests giving an income tax exemption to monthly salaries of up to Rs 50,000. Discussions are also underway to simplify the process for filing tax returns and make adjustments in the lower tax slabs.

FBR has drafted three major proposals aimed at providing relief to the salaried segment. These include raising the current annual income threshold from Rs 600,000 for tax applicability and shifting more people into the lower slab category. However, all these measures depend on final approval from the International Monetary Fund (IMF).

An IMF mission will arrive in Pakistan in the second week of May to hold consultations on the upcoming budget. While the government is hopeful of providing relief, the final green signal will come only after the IMF gives its nod.