Finance Minister Muhammad Aurangzeb on Friday announced an expanded privatisation programme, saying the government plans to transfer additional power sector entities, banks, insurance companies and airports to the private sector as part of its economic reform agenda.

Presenting the federal budget for fiscal year 2026-27, the minister said the government had decided to privatise more generation companies (GENCOs) and distribution companies (DISCOs) to improve efficiency and reduce the burden on the national exchequer.

He said expressions of interest had already been invited for the privatisation of three electricity distribution companies, adding that the process would be accelerated in the coming months.

Aurangzeb also announced tax relief measures for salaried individuals, saying the government was committed to easing the burden on the middle class.

Under the revised tax structure, annual salary income ranging from Rs2.2 million to Rs3.2 million will be taxed at 20 percent, while income between Rs3.2 million and Rs4.1 million will attract a 25 per cent tax rate.

In a major relief measure for the corporate sector, the finance minister said the government had abolished the super tax imposed on businesses.

The announcements form part of the government’s broader strategy to stimulate economic activity, attract investment and support private-sector-led growth while continuing structural reforms across key sectors of the economy.