ISLAMABAD:
The federal government is expected to set a GDP growth target of 5.1 per cent and a tax collection target exceeding Rs 15.5 trillion in the next fiscal year’s budget (2026-27), even as global lenders expect slower growth in the economy.
Finance ministry sources said preparations for the next budget are in the final stages with proposals received from various stakeholders being considered and feasible suggestions being incorporated.
The budget is aligned with the criteria agreed under the International Monetary Fund (IMF) program.
The global lender’s review mission is expected to visit Pakistan next month to hold detailed consultations before finalizing the proposals.
The government is expected to present the budget to Parliament in the first ten days of June.
According to sources, the proposed growth target of 5.1 percent represents an increase from the 4.2 percent target set for the current fiscal year.
However, the IMF, World Bank (WB) and Asian Development Bank (ADB) have forecast growth below government estimates.
On the revenue side, the government plans to set a fiscal target of over Rs 15.5 trillion for 2026-27, up from Rs 14.131 billion for the current fiscal year.
Despite a downward revision of targets, the Federal Board of Revenue (FBR) recorded a shortfall of Rs610 billion over the first nine months of the current financial year.
To broaden the tax base, the government aims to add one million new income tax filers by June this year, followed by another 750,000 by March next year.
