Upcoming Budget to Minimize Public Burden, Focus on Tax Enforcement: Aurangzeb
ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb has stated that the government is striving to place the minimum possible burden on the public in the upcoming federal budget.
Speaking to the media, the finance minister said the budget’s focus would be on enforcement and compliance rather than on increasing taxes. He added that the government is continuously taking measures to reduce inflation.
Aurangzeb also called upon political parties to work together for economic stability instead of engaging in criticism for its own sake. He noted that Pakistan’s diplomatic successes are being appreciated at the global level and that the government is actively working to de-escalate tensions in the region.
Highlighting the potential of the agricultural sector, the minister said modern technology could significantly increase wheat production, noting that some farmers have already achieved yields of 60 to 70 maunds per acre. He asserted that an increase in agricultural output could substantially boost Pakistan’s export potential and confirmed that Prime Minister Shehbaz Sharif is fully aware of the issues facing the sector.
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Updated: 1:33 PM PKT — May 29, 2026
President Asif Ali Zardari has summoned the budget session for the fiscal year 2026-27 to be held on Friday, June 5. The National Assembly will convene at 5 pm, followed by the Senate at 6 pm.
Ahead of the session, the National Assembly’s Standing Committee on Finance and Revenue has urged the government to prioritize long-term structural reforms and inclusive economic growth over short-term stabilization measures. The committee expressed concern over the continued reliance on indirect taxes and petroleum levies, calling for a broader, more sustainable tax base. Officials informed the committee that while there are signs of recovery, the economic path remains fragile, with GDP growth for the upcoming fiscal year projected at 3.5% to 4.5% and inflation rising to 10.9% in April.
Updated: 11:31 AM PKT — May 29, 2026
President Asif Ali Zardari has summoned separate sessions of the National Assembly and the Senate for June 5 to discuss the upcoming federal budget for the fiscal year 2026-27. The National Assembly session is scheduled for 5 p.m., followed by the Senate at 6 p.m. This scheduling suggests the budget’s presentation to parliament may be delayed until the second week of June. The government is expected to approve a consolidated national development programme exceeding Rs3.5 trillion and a macroeconomic framework targeting a 4.1% economic growth rate with an 8.5% inflation rate for the next fiscal year.
The budget discussions come as the National Assembly Standing Committee on Finance and Revenue urged a shift from short-term stabilisation to sustainable economic reforms, fiscal transparency, and inclusive growth. The committee expressed serious concern over the continued reliance on indirect taxation and petroleum levies. Pakistan is described as being on a “fragile stabilisation path,” with projected GDP growth between 3.5% and 4.5% for FY2026-27, while inflation re-entered double digits at 10.9% year-on-year in April 2026.
