THE HALFAX HEIMDALL AUGUR

Analysis: BUDGET 2026-27: Budget battles: who really shapes country’s finances? <p>THE budget is a tug-of-war between different interest groups. On one hand, there is explicit lobbying by various business groups and industry bodies that commission reports, hold events and engage policymakers.</p> <p>These organisations, explains Dr Ali Hasanain, associate professor of economics at Lums, also meet political party leaders and bureaucrats in both formal and private settings to communicate their concerns and policy preferences.</p> <p>This is broadly in line with how businesses operate globally. For ex­­ample, US President Donald Tru­­mp’s top backer in the last ele­ction was investor Timothy Mel­l­­on, who gave $150 million to Make America Great Again, Inc., follow­­ed by Elon Musk, who gave $118.6m.</p> <p>But while lobbying and formal influence exist everywhere, the distribution of power is far less orderly in Pakistan. No single player is all-powerful, though wealth is concentrated in relatively few hands. Instead, policy becomes outcome of fragmented pressure from multiple directions.</p> <blockquote class="blockquote-level-1"> <p>The big boss may be IMF, but Pakistan remains a s…

BUDGET 2026-27: Record Rs3.6tr overspending belies govt’s austerity claims <p>ISLAMABAD: Despite the government’s claims of austerity and tight fiscal discipline, Finance Minister Muhammad Aurangzeb has actually asked the parliament to give post-facto approval for a record Rs3.684 trillion supplementary grants for expenditure overruns and re-appropriation.</p> <p>Budget documents suggest that parliament would be required to approve more than four times higher supplementary grants later this month when compared to Rs895bn it regularised last year. This put a question mark on the processes leading to budget estimates and expenditures. Documents placed before parliament by the finance ministry indicate that debt servicing, subsidies, power sector, water division, defence services, health related expenditures, civil armed forces and related agencies stand out in exceeding budgetary allocations. The ministry said the amounts that it was seeking approval as a fait accompli pertained to May 17 to June 30 of 2024-25 and from July 1 to May 15 for 2025-26 after the conclusion of budgetary processes for respective years and over-ran allocations approved by the parliament and yet remain legal…

Budget for FY2026-27 set to be presented in NA today <p>The federal budget for the upcoming fiscal year (FY26-27) is set to be presented in the upper and lower houses of the Parliament today.</p> <p>Finance Minister Muhammad Aurangzeb is expected to present the financial plan in the National Assembly at 3pm, and later in the Senate, according to Parliamentary Affairs Minister Tariq Fazal Chaudhry.</p> <figure class='media w-full w-full media-- media--embed media--uneven media--tweet' data-original-src='https://x.com/DrTariqFazal/status/2065029667933802746'> <div class='media__item media__item--twitter '><span> <blockquote class="twitter-tweet" lang="en"> <a href="https://twitter.com/DrTariqFazal/status/2065029667933802746"></a> </blockquote> </span></div> </figure> <p>The coalition government is set to unveil fresh tax measures worth Rs660 billion to Rs700bn in the budget, according to a <em>Dawn</em> <a href="https://www.dawn.com/news/2006790/income-tax-may-fall-for-some-salaried-segments">report</a>.</p> <p>In contrast to the broader revenue measures, the budget carries highly targeted good news for mid- and upper-level income earn…

BUDGET 2026-27: Punjab to unveil ‘Rs5.3tr’ tax-free budget today <p>LAHORE / QUETTA: Punjab’s tax-free budget for the financial year 2026-27 will be presented on Tuesday (today) during the 43rd session of the Punjab Assembly, which has been summoned by the governor.</p> <p>Meanwhile, the Balochistan governor has convened the provincial assembly’s budget session for Wednesday (tomorrow) at 4pm in Quetta.</p> <p>In Punjab, Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman will deliver the budget speech and table key financial documents and bills. He will present the annual financial statement for the upcoming fiscal year, along with the supplementary budget for the outgoing fiscal year 2025-26.</p> <p>He will also introduce the Punjab Finance Bill 2026 and present notifications regarding amendments to Sections 5 and 76 of the Punjab Sales Tax on Services Act, 2012. He is also scheduled to present the Fiscal Risk Statement for the coming fiscal year.</p> <blockquote class="blockquote-level-1"> <p>Balochistan Assembly to hold budget session tomorrow</p> </blockquote> <p>According to sources, the total outlay of the Punjab budget is proposed to be over Rs5.3 trillion. Punjab is …

NFC 15th Award 2025: Provincial Allocations & Fiscal Reforms - The ... Tech & Telecom NFC 15th Award 2025: Key Allocations, Provincial Impact & Fiscal Reforms in Pakistan by Syed Hamza Imtiaz June 23, 2025 written by Syed Hamza Imtiaz June 23, 2025 0 comments Share 0 Facebook Twitter Pinterest Threads Bluesky Email 143 Table of Contents The 15th National Finance Commission (NFC) Award for the fiscal year 2025-26 marks a significant turning point in Pakistan’s intergovernmental fiscal system. As the country confronts economic challenges, this award not only boosts provincial finances but also opens the door for long-overdue fiscal reforms. Key Allocations to Provinces (FY 2025-26) The federal government has allocated a record Rs 8,205 billion to provinces under the 15th NFC Award. Compared to the previous year, this amount reflects an increase of Rs 1,208 billion , supporting provincial needs across the board. Read More: Fujifilm X-Half – Retro Charm Meets Modern Photography Province Allocation (Rs Billion) Increase from FY2024-25 Punjab 4,760 +641 Sindh 2,430 +291 Khyber Pakhtunkhwa (KP) 1,342 +207 (includes 1% for war on terror) Balochistan 743 +70 Total 8,205 +1,208 In addition,…

Live Updates: Live: Budget 2026-27 - Business Recorder Finance Minister Muhammad Aurangzeb unveiled Pakistan’s federal budget for fiscal year 2026-27 on Friday, with the government seeking to achieve GDP growth of 4% and inflation at 8.2%. Notably, the salaried group that had been at the receiving end of higher taxation for a number of years saw some relief. However, the income tax threshold of Rs50,000 per month remained unchanged. The incumbent government’s third federal budget carries a total outlay of around Rs18.77 trillion ($67 billion), reflecting a moderate increase from Rs17.6 trillion in the previous year’s budget, as policymakers attempt to maintain macroeconomic stability while navigating a challenging external environment marred by the Middle East crisis. Interestingly, inflation target has been set slightly higher at 8.2%, largely attributed to the ongoing Middle East war that has rattled energy markets. Meanwhile, as per the budget documents, Rs8,054 billion has been earmarked for interest payments in FY27. While Rs17,495 billion has been allocated for the government’s current expenditure in FY27. According to budget estimates, the government targets GDP growth…

BUDGET 2026-27: Budget timing in doubt after NEC meeting put off again <p>• Centre, provinces struggle to reach consensus over fiscal space<br>• Federal govt seeks over Rs1tr for strategic needs; provinces resist freeze on NFC shares<br>• KP says demand could push provinces into deficit<br>• CM’s adviser says issue now political, not technical<br>• Seeks consultation with Imran before budget decisions</p> <p>ISLAMABAD: The announcement of the federal budget 2026-27 remains uncertain as the federal government, its coalition partners and provincial governments struggle to reach consensus over the Centre’s demand for more than Rs1 trillion for strategic needs.</p> <p>The meeting of the National Economic Council (NEC), officially called on Monday for June 8, was postponed for the third time at the last moment amid continuing negotiations over the freezing of provincial shares in the federal divisible pool under the National Finance Commission (NFC) award.</p> <figure class='media w-full sm:w-1/2 media--right media--embed media--uneven' data-original-src='https://www.dawn.com/news/2005041'> <div class='media__item media__item--newskitlink '> <iframe class="…

Aurangzeb sees budget upside from US-Iran deal, but says 'way too premature' to revise projections <p>Pakistan could improve economic projections for 2027 after the end of the Iran war, but it is still too early to revise the budget, Finance Minister Muhammad Aurangzeb told <em>Reuters</em>, hours after the US and Iran <a href="https://www.dawn.com/news/2008238/middle-east-peace-hinges-on-hormuz-lebanon-after-deal-signed">signed a deal </a>to end the fighting.</p> <p>Damaged energy infrastructure meant supply chains would take time to return to normal, after the conflict pushed inflation back into double digits, Aurangzeb said.</p> <p>“We were looking at how we manage the second, third-order impact in case this conflict continues,” he said. “The energy infrastructure has been hit. And therefore, it will take time before we return to normalcy in terms of supply chains.”</p> <p>He added, “I do see upsides in what we have projected for next year,” but cautioned it would be “way too premature” to revise the budget.</p> <p>The budget for the upcoming financial year, <a href="https://www.dawn.com/news/2007490">presented in Parliament</a> on Friday, targets growth of 4 per cent and infla…

2026-27: Budget: Moving towards competitiveness <figure class='media w-1/2 sm:w-3/5 media--center media--uneven media--stretch' data-original-src='https://i.dawn.com/large/2026/06/150415241332fd5.webp'> <div class='media__item '><picture><img src='https://i.dawn.com/large/2026/06/150415241332fd5.webp' alt=' &mdash; FSA ' /></picture></div> <figcaption class='media__caption '>— FSA</figcaption> </figure> <p>The federal budget for FY27 is refreshingly forward-looking. It focuses on some of Pakistan’s most pressing structural challenges: broadening the tax base, continuing import tariff reforms, sustaining incentives for the information technology sector, and reviving the long-dormant construction industry.</p> <p>The most politically sensitive measure is the relief provided to salaried taxpayers. Income tax rates have been reduced, while the income threshold for the highest tax bracket of 35 per cent has been raised from Rs4.1 million to Rs7m. The super tax has been<a href="https://www.dawn.com/news/2007489"> abolished </a>for individuals earning up to Rs500m and reduced by 20pc for higher-income taxpayers. The income tax surcharge has been eliminate…

BUDGET 2026-27 : NA panel rejects FBR bid to access bank account data <p>• Lawmakers fear access to such data could be misused<br>• Body okays proposed tax rates for salaried class, calls for more relief<br>• Finance minister says no room for more concessions this year<br>• Panel rejects stricter penalties for filers, non-filers in certain cases<br>• Luxury vehicles above 3,000cc to face 41pc levy<br>• IT, related services to remain taxed at 4pc; professionals, independent software developers to face 15pc rate</p> <p>ISLAMABAD: A parliamentary committee on Fri­day questioned the government’s claim of <a href="https://www.dawn.com/news/2007489">providing relief to the middle-income sal­aried class</a>, while rejecting a proposal to grant tax authorities access to taxpayers’ bank account data and opposing stricter penalties for taxpayers in certain cases.</p> <p>The National Assembly Standing Committee on Finance and Revenue, chaired by MNA Naveed Qamar, approved higher surcharges for late filing of tax returns as well as the imposition of a special excise duty on imported luxury vehicles.</p> <figure class='media w-full w-full media-- media--embed media--uneven media--twe…

BUDGET 2026-27: Only half of FY26 uplift budget spent in 11 months <p><strong>• PSDP utilisation from July 2025 to May 2026 stands at Rs529.8bn, against Rs1.01tr allocation<br>• Govt cuts development outlay by Rs173bn to finance fuel subsidies after Mideast conflict pushed up oil prices<br>• Only Rs153.86bn spent on uplift activities in special regions</strong></p> <p>ISLAMABAD: Amid a 17 per cent cut in allocations during the outgoing fiscal year, the government and its agencies struggled to implement the Public Sector Development Programme (PSDP), utilising only about half of the budget earmarked for public welfare projects during the first 11 months of FY26.</p> <p>According to the Ministry of Planning and Development, total PSDP utilisation amounted to Rs529.8bn during the first 11 months of the year, accounting for 52.4pc of the original allocation of Rs1.01 trillion. The utilisation was slightly lower than the 54pc recorded during the same period last year, when PSDP expenditure stood at Rs596bn against an allocation of Rs1.1tr.</p> <p>In the aftermath of the <a href="https://www.dawn.com/live/iran-israel-war">US-Israel attack on Iran,</a> the government slashed PSDP allocat…

Post-budget presser: Aurangzeb defends measures, addresses stakeholders ... Business & Finance Post-budget presser: Aurangzeb defends measures, addresses stakeholders’ concerns Aurangzeb on Friday unveiled a Rs18.77 trillion federal budget for fiscal year 2026-27 Published June 13, 2026 Updated June 13, 2026 01:34pm Save Saved 2 min comment Comments LIVE: Finance Minister addresses post budget press conference By BR Web Desk Add BRecorder as a trusted source on Google Finance Minister Muhammad Aurangzeb on Saturday defended the FY26-27 budget while addressing the concerns of stakeholders regarding the budget presented before the National Assembly (NA) a day ago. “In this budget we have tried to bring all enabling factors to achieve export-led growth,” said Aurangzeb, while addressing media persons, citing abolition of advance tax and super tax. The government proposed the complete abolition of the super tax across six income slabs. For incomes exceeding Rs500 million annually, the super tax rate has been proposed to be reduced from 10% to 8% . The finance minister said that the government remains focused on reducing the trade deficit involving goods. “But the services are becomin…

BUDGET 2026-27: CPEC 2.0 only new project in Rs3.6tr development kitty <p>• Govt announces Rs1tr for PSDP, Rs2.2tr for provincial programmes, and Rs450bn for SOEs<br /> • Three key motorways, Main-Line 1 track, K-IV water scheme among mega-projects being financed<br /> • Major allocations for AJK, GB &amp; tribal districts </p> <p>ISLAMABAD: The government on Friday announced a Rs3.675 trillion development budget for the next fiscal year, with hardly any new uplift projects.</p> <p>However, the Public Sector Develop­ment Programme (PSDP) contains a list of long-overdue mega-projects, which provinces had been insisting should be financed by the Centre. </p> <p>The second phase of the China-Pakistan Economic Corridor (CPEC-II) is perhaps the only new initiative listed, for which Rs1 billion was allocated. </p> <p>The outlay comprises the PSDP at Rs1 trillion, the Provincial Annual Development Programmes (ADPs) at Rs2.224 trillion, and reported development spending by state-owned enterprises (SOEs) at Rs451 billion.</p> <p>In his budget speech, Finance Minister Muhammad Aurangzeb said that more than 60pc of the Centre’s priorities were focused on key sectio…

Balochistan rolls out Rs1.09tr surplus budget <figure class='media w-full sm:w-full media--center media--uneven media--stretch' data-original-src='https://i.dawn.com/large/2026/06/18041251c19ee9b.webp'> <div class='media__item '><picture><img src='https://i.dawn.com/large/2026/06/18041251c19ee9b.webp' alt='' /></picture></div> </figure> <p>• Development spending cut to Rs291.55bn; no new taxes in resource-strapped province<br>• Federal transfers remain mainstay of provincial finances<br>• Balochistan expects Rs800.13bn from NFC, federal receipts<br>• Education gets Rs157.29bn; health allocated Rs74bn<br>• Public order, safety affairs get Rs108bn; social protection spending falls to Rs15.14bn<br>• 1,200 schools to be activated; 164 non-functional BHUs to be made operational</p> <p>QUETTA: The Balochistan government on Wednesday rolled out a Rs1.13 trillion budget for fiscal year 2026-27, with total expenditure set at Rs1.09tr, leaving the province with a budgeted surplus of Rs45.57 billion for a sixth consecutive year.</p> <p>The overall development expenditure, however, has been budgeted at Rs291.55bn, down from Rs336.58bn originally budgeted and Rs352…

BUDGET 2026-27: Centre, Punjab & Sindh agree on spending cuts <p>• Budget likely on Friday after president summons NA, Senate sessions today<br>• National Economic Council finally set to meet today; KP still weighing participation<br>• Federal, provincial govts to jointly cover Rs800bn shortfall<br>• Extra FBR revenue to stay with Centre; ‘strategic needs’ may require Rs1.3-1.7tr<br>• Sindh, Punjab agree to cut ADPs; KP, Balochistan not yet on board<br>• Uplift plans worth Rs4.715tr likely to be revised down</p> <p>ISLAMABAD: Signs that the federal budget may be presented later this week emerged on Tuesday after the government finally <a href="https://www.dawn.com/news/2006260">called</a> a meeting of the National Economic Council (NEC) on the same day that sessions of the National Assembly and Senate were <a href="https://www.dawn.com/news/2006413/president-zardari-summons-na-senate-sessions-on-june-10">summoned</a> by President Asif Ali Zardari.</p> <p>A source in the NA Secretariat told <em>Dawn</em> that both sessions have been called budget sessions for 2026–27; however, it is expected that the budget will be presented in parliament on June 12.</p> <p>This echoed Parliamentar…

ECONOMIC SURVEY 2026-27: Record provincial surplus masks deeper fault lines <p>ISLAMABAD: Provincial fiscal operations provided significant support to the federal government in improving the ove­rall fiscal situation in the outgoing year.</p> <p>“The dedicated efforts at the provincial level for effective resource mobilisation and prudent expenditure management triggered higher growth in provincial revenues relative to expenditures,” the Economic Survey of Pakistan 2025-26 acknowledged.</p> <p>All four provinces collectively achieved the highest-ever surplus of Rs1,636.1 billion in July-March, compared to Rs1 trillion last year. Provincial revenue incr­eased by 12.9pc during the same period.</p> <p>Sajid Amin Javed, Deputy Executive Director at SDPI, said the Centre was “fair” to urge provinces to share fiscal responsibility, but should lead by example by broadening its own tax net. He noted that since the federal government cannot constitutionally compel provinces to relinquish their NFC share, it has resorted to a “moral language of shared responsibility.”</p> <figure class='media w-full sm:w-1/2 media--right media--embed media--uneven' data-original-src='https://www.da…

86,000 Interest-Free Loans, IT Training for 120,000 Youth Announced in ... The government has planned to distribute interest-free loans to 86,000 individuals under the Pakistan Poverty Reduction Program in the federal Budget 2026–27, according to official documents shared with ProPakistani. The initiative is aimed at supporting low-income households by improving access to financial assistance and helping create livelihood opportunities for vulnerable segments of society. In addition to poverty alleviation measures, the budget also prioritizes climate resilience. Around 80 projects focused on climate adaptation and infrastructure strengthening are expected to be completed during the upcoming fiscal year to help communities cope with environmental challenges. ALSO READ Govt Sets 4% Growth Target, Inflation Projected at 8.2% On the youth development side, the government plans to scale up the Prime Minister’s Youth Skill Development Program, with a target of training 120,000 young people in IT and digital skills to enhance employability in the growing digital economy. For capacity building, Rs. 5.29 billion has been allocated for IT and digital skills training initiatives. Separately,…

Agriculture, Manufacturing Sectors Largely Ignored in New Budget Pakistan’s food security and industrial development sectors are set to receive only a fraction of their requested funding in the proposed federal development budget for FY2026-27, according to planning documents. The two sectors had collectively sought approximately Rs. 117 billion for development projects in the upcoming fiscal year. However, budget proposals currently allocate only Rs. 7.2 billion, including Rs. 3.2 billion for the Ministry of National Food Security and Research and Rs. 4 billion for the Ministry of Industries and Production. Documents show that the allocation for food security projects includes around Rs. 2.27 billion for ongoing schemes, while only Rs. 92.5 million has been proposed for new initiatives. ALSO READ SECP Ends Long Approval Nighmare for Businesses Backed By Foreign Investors The agriculture portfolio includes projects related to commercial olive cultivation, certified potato seed production, camel milk production, and livestock disease monitoring. However, funding levels for these initiatives remain relatively limited. On the industrial side, the largest proposed allocation is Rs. 1.…

BUDGET 2026-27: ECC expands bureaucrats’ stipend, okays Rs40bn grants <p>• Approves Rs100bn financing facility for PSO<br>• Oil company facing over Rs900bn receivables from SOEs<br>• Special honoraria expanded to more ministries, departments<br>• Rs10.15bn cleared for Pakistan Navy’s Hangor Project<br>• Rs4.38bn granted to Gilgit-Baltistan ahead of elections</p> <p>ISLAMABAD: Less than a week before the next budget, the Economic Coordination Com­mittee (ECC) of the cabinet on Friday approved more than Rs40 billion in supplementary grants and a Rs100bn sovereign-guarantee-backed financing facility for the Pakistan State Oil (PSO), which is facing over Rs900bn in receivables from other state-owned enterprises, raising concerns about smooth oil supplies.</p> <p>And despite financial constraints forcing development cuts in the name of IMF restrictions, the ECC meeting, presided over by Finance Minister Muhammad Aurangzeb, also allowed Rs10bn additional funds for parliamentarians’ development schemes and expanded the scope of special honoraria running up to six-month additional salaries to more ministries and departments involved in federal budget preparations.</p> <p>The benefit, alre…

Govt presents Rs18.8tr FY27 budget, targets 4% growth amid ... - Geo.tv Largest share of budget to go into debt servicing; Rs3tr allocated for defence; average inflation rate expected to be 8.2% Updated Friday Jun 12 2026 ISLAMABAD: Finance Minister Muhammad Aurangzeb on Friday presented a budget with a total outlay of Rs18,771 billion as the federal government tries to balance a fragile economic situation due to an energy crisis amid the Middle East tensions. Presenting his term’s third budget in the National Assembly, the finance minister noted: "This budget is being presented at a time when Pakistan has achieved the status in the eyes of its people and the world as a country whose voice is listened to, and whose friendship is desired." FinMin Aurangzeb said that this did not “happen by chance” and explained that after Pakistan handed a humiliating defeat to India during last year’s war, the entire world was “compelled to take notice”. “Today, the world acknowledges Pakistan's defensive strength,” he said, noting that the nation has also had the honour of brokering a ceasefire between Iran and the United States, putting the South Asian country in a strong position. The ses…

BUDGET 2026-27: NA body questions mobile taxes, EV policy <p>• Committee finalises Finance Bill 2026 recommendations<br>• Lawmakers seek relief for entry-level, mid-range phone users<br>• FBR says mobile imports generate Rs37bn annually<br>• Apple devices account for Rs21bn in mobile import revenue<br>• Aircraft lease, spare parts tax relief extended beyond PIA<br>• MNAs insist airline relief should reflect in ticket prices</p> <p>ISLAMABAD: A parliamentary committee on Sunday raised questions over the government’s mobile phone taxation policy and proposed taxes on high-end electric vehicles, while also extending relief to airlines beyond Pakistan International Airlines.</p> <p>The National Assembly Standing Committee on Finance, chaired by MNA Naveed Qamar, concluded its series of meetings held for a clause-by-clause review of the Finance Bill 2026. The committee finalised its recommendations and forwarded them to the National Assembly.</p> <p>During the proceedings, Sharmila Faruqui and Muhammad Javed Hanif submitted dissenting notes on the government’s electric vehicle policy and the existing tax structure on imported mobile phones, respectively.</p> <figure class='media w…

BUDGET 2026-27: AJK Assembly passes Rs286bn budget for FY27 <p>• Rs250bn earmarked for recurring expenditure, Rs36bn for development<br>• Rs26.28bn set aside for ongoing projects, Rs8.71bn for new schemes<br>• Federal pay, pension hike extended to AJK</p> <p>MUZAFFARABAD: The Azad Jammu and Kashmir (AJK) Legislative Assembly on Monday passed a Rs286 billion budget for the fiscal year 2026-27 just hours after it was presented by Finance Minister Chaudhry Qasim Majeed.</p> <p>Presided over by Speaker Chaudhry Latif Akbar, the assembly sitting witnessed around 50 per cent attendance, including about five lawmakers from the opposition PML-N and PTI. However, towards the end of the session, there was only one PML-N lawmaker in the House.</p> <p>The budget comprises Rs250 billion for recurring expenditure and Rs36bn for development, including Rs1bn in foreign assistance.</p> <p>Presenting the budget, Majeed said the government had framed its financial plan despite severe resource constraints, with public welfare, transparency and good governance remaining its guiding principles.</p> <p>He said the Inland Revenue Department, which constituted the backbone of AJK’s own-source revenues, ha…

Budget FY26-27: What relief measures has the government announced for next year? <p>As part of its <a href="https://www.dawn.com/news/2007283/govt-unveils-rs188tr-budget-for-fy2026-27-economic-growth-targeted-at-4pc">budget proposals</a> for the next fiscal year (FY26-27), the government has announced a range of measures to provide some measure of relief to the public, ranging from an expanded income support programme for the most vulnerable segment of the population, to lower taxes for individuals earning more than Rs183,000 a month.</p> <p>As part of its relief, subsidy and social safety plans, the government has announced a seven per cent increase in salaries for serving federal employees, a 7pc increase in pensions for retired employees, and a 10pc increase in the federal minimum wage. However, with inflation expected to average 8.2pc over the next fiscal year, the gains in real terms are expected to be minimal.</p> <p>The budget for the Benazir Income Support Programme has also been increased by 17pc to Rs838 billion, while the Kafalat programme has been expanded to Rs12 million families, and 9.2m children are to be provided educational scholarships under the government’s pro…

KP BUDGET 2026-27 : No funds for Centre sans Imran meeting, says Afridi <figure class='media w-full sm:w-full media--center media--uneven media--stretch' data-original-src='https://i.dawn.com/large/2026/06/20043936bce5bff.webp'> <div class='media__item '><picture><img src='https://i.dawn.com/large/2026/06/20043936bce5bff.webp' alt='' /></picture></div> </figure> <p>• CM unveils Rs2.17tr budget, says only PTI founder can authorise payments to federal govt<br>• Claims funds for former tribal areas not released in full<br>• No new taxes; salaries and pensions raised by 7pc<br>• Property tax exemption for properties up to 5 marlas</p> <p>PESHAWAR: Khyber Pakh­tunkhwa Chief Minister Muhammad Sohail Afridi on Friday said the provincial government will not give any grant to the federal government, as he presented a Rs2.17 trillion budget for fiscal year 2026-27, carrying a projected deficit of Rs48bn.</p> <p>Addressing the KP Assem­bly’s budget session, chaired by Speaker Babar Saleem Swati, the chief minister said any decision on providing additional funds to the federal government would be made by PTI founder Imran Khan.</p> <p>“We had made it clear during …

Budget 2026-27: Attaullah Tarar calls it relief-oriented - Pakistan Today June 13, 2026 Attaullah Tarar says Pakistan’s Budget 2026-27 is all-inclusive and relief-oriented, highlighting Rs 90bn for housing, reduced housing taxes, export-led growth, and FBR reforms to improve transparency. Staff Correspondent June 13, 2026 ISLAMABAD:Federal Minister for Information and Broadcasting Attaullah Tarar on Saturday described the federal budget for 2026-27 as an “all-inclusive and relief-oriented” budget that reflects the government’s sustained efforts over the past two years under the leadership of Prime Minister Shehbaz Sharif. Speaking at a post-budget press conference alongside Finance Minister Muhammad Aurangzeb and Minister of State for Finance Bilal Azhar Kayani, Tarar said the prime minister had fulfilled his commitment to provide meaningful relief to multiple segments of society, including salaried individuals, businesses and exporters. He said the government was firmly pursuing an export-led growth model to strengthen the national economy and increase Pakistan’s presence in international markets through “Made in Pakistan” products. “An increase in turnover for the export …

PUNJAB BUDGET 2026-27: Punjab eyes Rs910bn surplus in Rs5.9tr budget <figure class='media w-full sm:w-full media--center media--uneven media--stretch' data-original-src='https://i.dawn.com/large/2026/06/17061731efaed8b.webp'> <div class='media__item '><picture><img src='https://i.dawn.com/large/2026/06/17061731efaed8b.webp' alt='' /></picture></div> </figure> <p><strong>• Minister says no additional tax burden placed on public<br>• Insists budget focuses on welfare, growth, self-reliance<br>• Govt employees get 7pc salary raise; pensions increased by 3.5pc<br>• Province targets Rs1.21tr revenue from own sources<br>• Revenue authority given Rs528.9bn collection target<br>• Rs546bn grant to Centre included for the first time<br>• Education gets Rs750bn; health sector allocated Rs500.82bn<br>• Agriculture, livestock, aquaculture get Rs132.5bn</strong></p> <p>LAHORE: The Punjab government on Tuesday unveiled a Rs5.903 trillion budget for the next financial year, slashing the province’s Annual Development Programme by about 40 per cent to Rs752 billion from the outgoing year’s estimate of Rs1.24tr, while promising an estimated cash surplus of Rs910bn.</p> <…

Budget 2026-27: Government cuts income tax rates for salaried class Pakistan Budget 2026-27: Government cuts income tax rates for salaried class Updated 12 Jun, 2026 06:30pm 2 min read Yasir Nazar Updated 12 Jun, 2026 06:30pm 2 min read Yasir Nazar Real Madrid turn to Mourinho in bid to bring stability and end trophy drought Belfast's minority groups living in fear after 'racist thuggery' Saudi Arabia uncovers rock inscription linked to Caliph Umar in Medina region A representational image. File photo Finance Minister Muhammad Aurangzeb on Friday unveiled a broad package of tax relief measures for salaried individuals in the federal budget for fiscal year 2026-27, reducing income tax rates across multiple income brackets and abolishing the surcharge imposed on wage earners. Presenting the budget in the National Assembly, Aurangzeb said the government was committed to easing the tax burden on the salaried class, which remains one of the country’s largest contributors to tax revenues. The minister said relief had been provided to taxpayers in four income slabs. Under the proposed tax structure, the income tax rate for individuals earning between Rs2.2 million and Rs3.2 million annua…

Pakistan budget, hit by Iran war and IMF, to squeeze middle class ... Pakistan Pakistan budget, hit by Iran war and IMF, to squeeze middle class: Reuters The burden of higher fuel and power costs and taxes will fall largely on formally registered businesses and salaried workers in the South Asian nation Published June 11, 2026 Updated June 11, 2026 03:59pm Save Saved 4 min Summary new comment 1 Comment AI Overview (with editorial review) Brief AI Generated summary Pakistan's new budget, under IMF pressure, targets registered businesses and the middle class to raise revenue and cut spending, while protecting the poor amidst economic challenges and geopolitical impacts. Read the full article for: IMF austerity conditions and fiscal consolidation goals. Challenges in taxing powerful sectors like agriculture and real estate. Geopolitical conflict's impact on Pakistan's economy and inflation. Low business confidence and rising input costs. By Reuters Add BRecorder as a trusted source on Google ISLAMABAD: Pakistan’s government will propose a budget on Friday that hits the middle class and registered businesses as it seeks to raise revenue and cut spending while shielding the nation’s po…

A backdoor NFC revision? <p>• Budget delay exposes Centre-province fiscal deadlock<br>• NFC shares may be frozen under budget pressure<br>• Critics say Centre ignores revenues kept outside divisible pool<br>• Experts blame fiscal crisis on low tax collection, debt, federal spending<br>• Raza Rabbani warns of phased rollback of 18th Amendment, NFC Award</p> <p>WHEN Finance Minister Muhammad Aurangzeb rises to present his third budget, the usual questions will apply. Which sectors face fresh taxation? Will the salaried class get any relief? How much will the cost of living increase? Who will get tax benefits, and who will not?</p> <p>But this year, there is an additional dimension worth watching closely. Will the budget clip provincial finances? Will the Centre freeze provincial shares under the current National Finance Commission (NFC) arrangement and push fresh expenditure obligations onto provinces — over and above their existing requirement to produce a primary surplus?</p> <p>If it does, it would amount to a unilateral revision of the NFC arrangement through the back door of the budget.</p> <figure class='media w-full sm:w-1/2 media--right media--embed media--uneven' da…

Pakistan Unleashes Massive 18% Defence Procurement Surge as J-35 ... Pakistan Unleashes Massive 18% Defence Procurement Surge as J-35 Stealth Fighter, Hangor Submarine Programs Accelerate Islamabad’s record US$10.8 billion military procurement expansion signals an accelerated Chinese-backed force modernisation drive involving J-35 stealth fighters, Hangor-class submarines, advanced missile defence systems and next-generation air combat capabilities amid intensifying regional tensions with India. News English International By admin On Jun 14, 2026 J-35 Share (DEFENCE SECURITY ASIA) — Pakistan’s decision to raise funding for defence physical assets by nearly 18 percent in its FY2026-27 federal budget represents the most aggressive military procurement acceleration undertaken by Islamabad since the aftermath of the 2019 India-Pakistan aerial confrontation. The Rs3 trillion ($10.8 billion ) allocation for arms, ammunition, military equipment, and related acquisitions indicates that Pakistan’s military leadership is prioritising rapid force modernisation despite sustained International Monetary Fund-linked fiscal constraints. The defence allocation emerged directly from Pakistan Financ…

People-friendly Rs.18,771 billion Federal Budget unveiled, focusing on ... A people-friendly Federal Budget for the next financial year 2026-27 with a total outlay of 18,771 billion rupees has been presented with focus on accelerating economic growth and providing tax relief. Unveiling the budgetary proposals for the next financial year in the National Assembly in Islamabad on Friday, Minister for Finance Muhammad Aurangzeb said out of the total outlay, 8,054 billion rupees will be earmarked for the payment of markup. The Finance Minister said thegross revenueof the Federal Government for the next fiscal year is estimated to be 20,600 billion rupees. FBR revenue collection is estimated to be 15,264 billion rupees, which is 17.6 billion rupees higher than the current fiscal year. The share of provinces in the federal receipts is 8,848 billion rupees. The target of non-tax revenue is 5,336 billion rupees. Muhammad Aurangzeb saidGDP growth ratefor the next fiscal year is expected to be four percent while the average inflation rate is expected to be 8.2 percent. Budget deficit will be 3.6 percent of GDP while primary surplus will be two percent of GDP. The Finance Minister said 10…

BUDGET 2026-27: NEC trims uplift plans; Punjab takes biggest hit <p>• Overall development outlay slashed by 25pc to Rs3.218tr<br>• Federal PSDP reduced to Rs1tr, provincial ADPs to Rs2.218tr<br>• No new projects except for interior, defence ministries<br>• PM says strengthening defence is country’s biggest challenge<br>• Ahsan says Pakistan lagged behind region due to weak investment in education, skills</p> <p>ISLAMABAD: Freezing provincial development plans at their actual utilisation this year, the <a href="https://www.dawn.com/news/2006604/centre-provinces-made-decisions-in-the-best-interest-of-pakistan-pm-says-in-nec-meeting">National Economic Council</a> (NEC) on Wednesday cut the federal and provincial development budget by one-fourth to Rs3.218 trillion for the next fiscal year from Rs4.264tr cleared by the Annual Plan Coordination Committee (APCC) last week.</p> <p>Of the Rs1.046tr total cut, the combined annual development plans (ADPs) of the four provinces were slashed by almost one-third (29.3pc) to Rs2.218tr — roughly their actual utilisation so far in the current fiscal year — compared to the Rs3.138tr provincial portfolio finalised by the APCC on June 1.</p> <p>Punj…

Budget 2026: Pakistan bets on Higher Defence Spending amid Security ... ISLAMABAD – Pakistan announced federal budget of Rs18.77 trillion for the upcoming fiscal year in a major shift in spending priorities as the government increases defence allocation while restricting development expenditure and raising ambitious tax targets under IMF constraints. Finance Minister Muhammad Aurangzeb presented the budget in parliament, confirming that defence spending will rise to 3 trillion rupees, an increase of around 18% compared to the previous year. He said the higher allocation reflects the need to strengthen national security amid regional uncertainty. Pakistan is facing a lot of security challenges, as the country attempts to maintain what officials describe as a minimum credible deterrence across multiple fronts. Despite limited resources, this budget is stretched across a wide security spectrum—including territorial defence, counter-terrorism operations, and internal security management—leaving little room for expansion or modernization at scale. Unlike single-front defence model, Pakistan’s security challenges span more than one direction. Along its western border, the country con…

A treatise on political priorities and constraints <p>FOR the first time in years, Pakistan’s budget reads less like a crisis management document and more like a cautious growth agenda.</p> <p>The budget for FY27 comes at a moment when IMF-mandated stabilisation has helped significantly improve the fiscal position, slash inflation, and contain the current account deficit. For a government that spent its first two years ‘firefighting’, this is the first budget that makes political choices. </p> <p>How it has used that opportunity represents both the government’s priorities, and its constraints.</p> <p>“This budget signals a transition from stabilisation towards moderate growth. The salary tax reduction, the removal of super tax for small and medium enterprises, the reduction in super tax from 10pc to 8pc for larger companies, the relief for exporters: these are moving in a positive direction and will be well-received by both the corporate and salaries people,” says AAH Soomro, an independent market and financial analyst.</p> <p>The relief measures are substantive. For salaried workers, income tax rates have been cut by 3-6 percentage points across multiple personal income tax s…

SINDH BUDGET 2026-27: Sindh unveils Rs3.56tr budget with Rs36.9bn deficit <figure class='media w-full sm:w-full media--center media--uneven media--stretch' data-original-src='https://i.dawn.com/large/2026/06/180417132e21ade.webp'> <div class='media__item '><picture><img src='https://i.dawn.com/large/2026/06/180417132e21ade.webp' alt='' /></picture></div> </figure> <p>• CM says no new taxes announced for next fiscal year<br>• Insists NFC entitlement protected under MoU<br>• Province agrees to Rs260bn contribution for national strategic needs<br>• Salaries, pensions raised by 7pc; minimum wage increased to Rs43,000<br>• Development portfolio cut to Rs400bn; Karachi projects get Rs100.19bn<br>• Red Line BRT gets Rs13.2bn, Yellow Line over Rs3.5bn</p> <p>KARACHI: The Sindh government on Wednesday <a href="https://www.dawn.com/news/2008557/sindh-cm-murad-ali-shah-presents-rs356tr-budget-with-no-new-taxes-7pc-pay-raise">unveiled</a> a tax-free Rs3.562 trillion budget for the fiscal year 2026-27, estimating total receipts at Rs3.525tr and showing a deficit of Rs36.9 billion.</p> <p>Presenting the budget in the Sindh Assembly, Chief Minister Murad Ali Shah, wh…

BUDGET 2026-27: Govt balances relief and IMF diktat <p>• Budget keeps lender’s targets intact on revenue, deficit, primary surplus<br>• Divisible pool frozen for three years at Rs13.35tr; govt eyes Rs1.9tr fiscal space<br>• Revenue target up 17.6pc after record Rs1.15tr shortfall; defence up 17.7pc to Rs3tr<br>• Salaries, pensions to rise 7pc; minimum wage proposed at Rs40,700<br>• Super tax scrapped for Rs150m-Rs500m incomes<br>• Social media earnings, traders face new tax measures<br>• Incentives for small EVs; curbs on luxury ones<br>• Petroleum now top non-tax earner at Rs2.034tr</p> <p>ISLAMABAD: Religiously following critical conditions of the International Monetary Fund (IMF) — revenue target, fiscal deficit and primary surplus — to continue fiscal consolidation, Finance Minister Muhammad Aurangzeb on Friday announced a three-year freeze on provincial transfers as the government reallocated resources for security needs and relief measures for the salaried, corporate, real estate and export sectors to revive struggling economic activity.</p> <p>In his <a href="https://www.dawn.com/news/2007283/govt-unveils-rs188tr-budget-for-fy2026-27-gdp-growth-targeted-at-4pc">third budget…

BALOCHISTAN BUDGET 2026-27: Balochistan passes Rs119bn suppl budget without debate <p>• Energy, PDMA and BSDI receive major allocations<br>• Rs28.35bn earmarked for energy sector; development spending exceeds Rs58bn</p> <p>QUETTA: The Balochis­tan Assembly on Saturday approved the province’s supplementary budget of over Rs119 billion for the fiscal year 2025-26, without debate and without any cut motions being moved against the demands for grants.</p> <p>Soon after the session began, with Speaker retired Cap­tain Abdul Khaliq Achakzai in the chair, op­­position members sought to debate the supplementary budget. However, Chief Minister Mir Sarf­r­­az Bugti asked members to first approve the budget, saying discussion could take place later.</p> <p>The speaker then direc­ted Finance Minister Mir Shoaib Nosherwani to move the demands for grants. Mr Nosherwani presented 46 demands for grants one by one, including 21 related to non-development expenditure and 25 concerning development expenditure.</p> <p>No opposition member moved a cut motion aga­inst either development or non-development expenditure as the finance minister tabled all 46 demands in the house.</p> <p>The supplementary b…

Govt expects easing inflationary pressure in new fiscal year following reopening of Strait of Hormuz <p>ISLAMABAD: After inflation rose to a fresh peak of 12pc in June, the government expects inflationary pressures to ease in the new fiscal year following the <a href="https://www.dawn.com/news/2006070">opening</a> of the Strait of Hormuz as peace efforts gather pace.</p> <p>“With geopolitical tensions expected to ease following the US-Iran ceasefire, Pakistan’s economic outlook for FY2027 is expected to improve further, supported by reform continuity, stronger confidence and a more enabling pro-business environment”, said the Ministry of Finance in its Monthly Economic Update and Outlook (June 2026).</p> <p>It said that the recent easing of geopolitical tensions and ongoing peace efforts in the Middle East had improved global market sentiment.</p> <p>“Consequently, international crude oil prices had eased from their recent highs. This was expected to reduce imported inflationary pressures and help lower domestic fuel and transportation costs,” the ministry noted.</p> <p>While anticipating June inflation, as measured by the consumer price index (CPI), to remain within the range of …

BUDGET 2026-27: Auto sector row rocks Senate body <p>ISLAMABAD: A parliamentary committee on Tuesday witnessed heated exchanges over alleged irregularities in the automobile sector, while recommending relief for exporters, tariff reforms and a review of electricity fixed charges.</p> <p>The Senate Standing Committee on Finance and Revenue, chaired by Saleem Mandviwalla, continued its clause-by-clause review of the Finance Bill 2026.</p> <p>Responding to Senator Faisal Vawda’s allegations, Special Assistant to PM on Industries Haroon Akhtar Khan appeared before the committee with Federal Minister for Science and Technology Khalid Magsi.</p> <p>Mr Akhtar said members had the right to question the ministry but criticised “one-sided allegations”. Mr Vawda said his claims were based on official documents and he would apologise if proven wrong. He later shifted his claim, stating delays in commercial import of used vehicles caused a Rs125bn loss to the exchequer over eight months.</p> <blockquote> <p>Panel seeks zero tax on stationery for educational purposes</p> </blockquote> <p>The special assistant noted Mr Vawda had moved from “corruption” to “revenue loss”. Minister Khalid M…

BUDGET 2026-27: Defence gets Rs3tr amid security concerns <p>• Increase comes amid tensions with India, Afghan border concerns<br>• Allocation crosses 2pc of GDP after 17.6pc hike<br>• Military spending makes up nearly 16pc of federal outlay<br>• Rs967.55bn earmarked for salaries, allowances<br>• Military pensions budgeted separately at Rs822bn</p> <p>ISLAMABAD: The federal government on Friday proposed allocating Rs3 trillion for defence services in fiscal year 2026-27, marking a 17.65 per cent increase over the outgoing year’s original allocation of Rs2.55tr, as it sought to sustain military preparedness amid continuing tensions with India, a deteriorating security situation along the Afghan border and persistent militant violence at home.</p> <p>Finance Minister Muhammad Aurangzeb, while tabling the budget in the National Assembly, said Pakistan’s armed forces had delivered a decisive response to India’s aggression, forcing the adversary to retreat and demonstrating the country’s military preparedness and professional competence.</p> <p>The finance minister attributed the country’s enhanced global stature to the successes of the military.</p> <p>The proposed allocation, unveile…

KP to unveil Rs2.15tr tax-free budget today <p><strong>• ADP allocation pitched at over Rs235bn; own-source revenue target set at Rs182bn<br>• Govt workers to get 7pc raise<br>• No new taxes to be introduced<br>• Official says federal grant approval subject to Imran’s assent</strong></p> <p>PESHAWAR: The Khyber Pakhtunkhwa government will unveil its over Rs2.15 trillion tax-free budget for fiscal year 2026-27 on Friday.</p> <p>Sources told <em>Dawn</em> that the provincial government has allocated over Rs235 billion for the Annual Development Programme (ADP) in the budget, while its own-source revenue has been pitched at Rs182bn.</p> <p>“We have based our budgetary estimates on the Federal Board of Revenue tax target of Rs15.2tr,” an official told <em>Dawn</em>. He said the provincial government had also decided to give a seven per cent pay raise to government employees, along with an increase in conveyance allowance.</p> <p>Besides, he said no new taxes would be introduced in the budget and the government had decided to reduce the infrastructure development cess to 0.75pc from the existing 2pc.</p> <p>The official said tax on five-marla houses would also be reduced, benefiting ov…

ECONOMIC SURVEY 2025-26: Provinces’ development freeze to persist beyond next fiscal year <p>• Economic Survey shows major targets missed as Aurangzeb claims resilience amid three major shocks<br>• Says budget to offer incentives for agriculture, housing<br>• Over Rs900bn to be diverted for Centre’s strategic needs<br>• Centralised tax system, retailer model to be announced<br>• Oil price impact to continue next year<br>• Current account deficit falls to $252m; remittances may reach $41-42bn by year-end<br>• Fiscal deficit falls to 0.7pc of GDP; debt-to-GDP ratio drops to 68.5pc<br>• FBR recovers Rs94bn through digitisation, AI audits</p> <p>ISLAMABAD: The freeze on provincial development programmes, expected to generate more than Rs900 billion in additional resources for the Centre’s strategic needs, will continue for a specific period beyond one year, Finance Minister Muhammad Aurangzeb <a href="https://www.dawn.com/news/2006877/">said</a> on Wednesday as he unveiled the Pakistan Economic Survey 2025-26, which showed missed targets across major economic sectors in the outgoing fiscal year.</p> <p>Reviewing the economic report card, the minister said the economy grew by 3.7 per c…

Budget 2026-27: Federation will transfer Rs7.4tr to provinces, says ... Aurangzeb says inflation projected at 8.2%, budget deficit at 3.6% of GDP & primary surplus at 2% of GDP for FY26-27 Finance Minister Muhammad Aurangzeb, while presenting the federal budget for fiscal year 2026–27 in the National Assembly on Friday, announced total federal expenditure of Rs18,771 billion and set an economic growth target of 4%, describing the budget as anchored in “stabilisation, reform and growth”. Aurangzeb said Pakistan’s economy grew by 3.7% in FY2025–26 despite floods and regional tensions, reaching a size of $452 billion. He said per capita income had increased to $1,901, while large-scale manufacturing posted its strongest growth in four years. He said current expenditure stood at Rs17.4 trillion, including Rs8,054 billion for mark-up payments and Rs2,680 billion in grants. He added that foreign exchange reserves had risen from below $4 billion three years ago to more than $17 billion, sufficient to cover nearly three months of imports. For FY2026–27, he said GDP growth is projected at 4%, inflation at 8.2%, the budget deficit at 3.6% of GDP, and the primary surplus at 2% of GDP. T…

Budget 2026-27: Govt announces some relief for salaried class, slashes ... By Muhammad Faizan Khan, Saba Bajeer, Farah Mahjabeen, Javed Soomro and Muhammad Zareef ISLAMABAD: Finance Minister Muhammad Aurangzeb presented Pakistan’s Rs17.5 trillion national budget for the fiscal year 2026–27 in parliament on Friday amid loud protests and sloganeering from opposition lawmakers belonging to the Pakistan Tehreek-e-Insaf (PTI). National Assembly Speaker Ayaz Sadiq is chairing the session. He asked the finance minister to begin his speech despite continued disruptions and shouting from PTI members. The session is being attended by Prime Minister Shehbaz Sharif, federal cabinet ministers, and members of the treasury benches. The budget saw a considerable delay as Pakistan People’s Party (PPP) opted for a partial boycott but following an intervention by Deputy Prime Minister Ishaq Dar and Law Minister Azam Nazir Tarar, Bilawal agreed to attend the session. Addressing the session, Aurangzeb said the new fiscal budget had been prepared in the aftermath of Operation Bunyan Marsoos, highlighting what he described as the resilience of Pakistan’s armed forces amid external security challenges.…

BUDGET 2026-27 : Multiple risks looms over next-year budget, finance ministry warns <p>• $40 price spike per oil barrel risks adding 0.8pc to deficit<br>• Natural disasters threaten 1.5pc fiscal hit<br>• Tax exemptions, concessions risk a 1.3pc budget hole<br>• 10pc tax collection shortfall costs 0.7pc of GDP<br>• Loss-making state entities drain an extra 0.4pc</p> <p>ISLAMABAD: The government has warned of key risks to next year’s budget outlook, such as global oil price hikes, sluggish GDP growth, revenue shortfalls, increased debt servicing costs, state-owned entities’ poor performance, and unforeseen natural disasters and climate impacts.</p> <p>In a written statement of fiscal risks to parliament, required under the Public Finance Management Act 2019, Finance Minister Muhammad Aurangzeb and Finance Secretary Imdad Ullah Bosal presented these risks in seven major categories.</p> <p>They quantified their possible impacts on the fiscal deficit across macroeconomic, revenue, debt, state-owned entities, climate change, natural disasters, and commodity financing areas.</p> <p>The risk statement proposes mitigation measures to support fiscal discipline, strengthen risk management, a…

PUNJAB BUDGET 2026-27: Punjab to set up ‘FBR-like’ revenue authority, says minister <p>LAHORE: Punjab will establish a unified revenue authority on the model of the Federal Board of Revenue (FBR) during the next fiscal year, bringing all provincial taxes under a single institutional framework, Finance Minister Mian Mujtaba Shujaur Rehman told a post-budget press conference here on Wednesday.</p> <p>The province successfully achieved 99 per cent of its tax collection target during the outgoing fiscal year, while the revenue target for FY 2026-27 has been increased by 46pc, he added.</p> <p>Expressing confidence in the government’s revenue reforms, he said the enhanced target would also be achieved successfully.</p> <p>Accompanied by Senior Minister Marriyum Aurangzeb, Information Minister Azma Bukhari and others, Rehman announced that Punjab’s own-source revenues are expected to witness an increase of 30 to 40pc.</p> <blockquote class="blockquote-level-1"> <p>Says streams of revenue to come under single institutional framework; rebuffs certain rumours relating to revenue and development</p> </blockquote> <p>He claimed that significant improvements in revenue collection have been ac…

BUDGET 2026-27: Political, fiscal reality to reshape uplift budget as NEC meets today <p>• Rs4.7tr federal, provincial development plans may be revised<br>• Federal PSDP may rise above Rs1.3tr; provincial ADPs could be trimmed<br>• Mega projects face major cost, time overruns</p> <p>ISLAMABAD: The National Economic Council (NEC) is set to meet on Monday (today) and may revise federal and provincial development plans worth Rs4.715 trillion for the next fiscal year amid conflicting fiscal needs of critical political and other institutional stakeholders.</p> <p>The NEC — the highest economic decision-making forum of the federation, led by the prime minister and comprising the four chief ministers and four federal ministers — has a four-point agenda for the meeting.</p> <p>The first item pertains to a review of the Annual Plan 2025-26, approval of the Annual Plan 2026-27 and a presentation on key socio-economic indicators of the provinces.</p> <p>This will be followed by a review of Public Sector Investment (PSI) 2025-26, the proposed PSI 2026-27 and confirmation of changes made in the PSDP 2025-26 through addendums, corrigendums and adjustments on the directives of the prime ministe…

BUDGET 2026-27: Senate panel backs 5pc tax on earnings from social media <p>• Govt signals gradual end to super tax<br>• State minister says target of bringing 3.5m retailers into tax net in one year ‘unrealistic’<br>• NA panel seeks detailed estimates of revenue generation, relief measures to assess their overall economic impact</p> <p>ISLAMABAD: A parliamentary committee on Monday approved a five per cent tax on earnings generated through social media platforms by both local and foreign digital content creators, as lawmakers continued their review of proposals under the Finance Bill 2026.</p> <p>The move reflects the growing significance of social media as a source of income, with digital platforms increasingly serving as lucrative business avenues rather than merely communication tools. Content creators, influencers and online entrepreneurs are now generating millions of rupees annually through platform monetisation, advertising revenue and audience engagement.</p> <p>The Senate Standing Commi­ttee on Finance, chaired by Senator Saleem Mandviwalla, reviewed the proposed taxation framework and endorsed the mechanism for bringing social media earnings into the tax net. Finance Mi…