The agenda for the next sessions of the National Assembly and the Senate will be published in the coming days
Parliament House was illuminated with green lights to mark the first anniversary of Marka-e-Haq in the federal capital. PHOTO: ONLINE
President Asif Ali Zardari on Friday approved the convening of the budget session of the National Assembly at 5:00 p.m. and the Senate session at 6:00 p.m. on June 5.
The federal budget for the 2026-2027 financial year will be presented to the National Assembly. The agenda for the next sessions of the National Assembly and the Senate will be revealed in the coming days.
The next budget is to be presented in consultation with the International Monetary Fund (IMF), with most issues already resolved.
The federal government has also prepared proposals in the next budget regarding the increase in salaries of the salaried class and pensions of retirees.
Adviser to the Prime Minister on Political and Public Affairs, Senator Rana Sanaullah, said the assistance would be provided on a broad basis, including to the salaried class.
On Monday, Sanaullah said the government was preparing a comprehensive strategy to provide maximum relief to inflation-hit segments of the society in the upcoming budget.
Speaking to the media, he said no amendment regarding the age limit of voters was under consideration and the government remained fully committed to safeguarding the constitutional and democratic rights of the youth.
He said that the upcoming federal budget would bring major relief to the masses and Prime Minister Shehbaz Sharif would soon formally announce the public-friendly package.
FY27 budget could offer limited relief
Pakistan’s upcoming federal budget for FY27 looks set to focus less on headline-grabbing relief measures and more on reinforcing a commitment to economic stabilization, despite growing political, social and economic pressures. After three years of adjustments under the International Monetary Fund (IMF) program, the government now faces the challenge of balancing fiscal discipline with demands for tax relief, support for growth and investor confidence.
Read: Relief plan to be announced in budget: Sanaullah
Preliminary analyzes from major brokerages Topline Research and JS Global Capital indicate that the budget will likely be seen less in terms of populist measures or sweeping policy changes, but rather as a strengthening of fiscal discipline and policy continuity for investors and lenders. Both reports expect continued fiscal consolidation with a fourth consecutive primary surplus in FY27, but sustaining it will require strong revenue mobilization amid a fragile recovery.
As per the IMF-linked targets highlighted in the reports, the Federal Board of Revenue (FBR) is expected to collect around Rs 15.3 trillion in taxes in FY27, implying revenue growth of around 14-20% depending on the final collection base of FY26. The challenge becomes even greater as FY26 itself is expected to close with a fresh revenue shortfall despite downward revisions in collection objectives.
This creates the central tension of the budget. On the one hand, the government plans to alleviate the situation of employees and certain business sectors due to internal pressure. On the other hand, the IMF has strengthened its surveillance by upgrading the FBR criteria to quantitative performance criteria, thus leaving little room for slippage, exemptions or discretionary relief.
