Islamabad: Finance Minister Muhammad Aurangzeb has announced that the Federal Budget for 2026-27 is strategically designed to promote export-led, sustainable, and inclusive economic growth. Speaking at the National Assembly, Aurangzeb highlighted that the budget seeks to boost productivity and generate employment opportunities without imposing additional burdens on existing taxpayers.
According to Radio Pakistan, the Finance Minister emphasized that the government aims to deepen and broaden the tax net, promoting equity and fairness in the taxation system. The budget includes tax relief measures for the salaried class, small businesses, and key sectors such as export and construction. Concessional financing provisions have been made for the export and agriculture sectors, and a simplified taxation scheme has been introduced for retailers to enhance tax compliance and enforcement.
Aurangzeb also unveiled the Zarkhez scheme for the agriculture sector, which offers interest-free and collateral-free loans to approximately 750,000 small farmers, totaling 300 billion rupees. Additionally, 109 billion rupees in loans will be provided under the Prime Minister Youth Business and Agriculture Loan scheme. To modernize agriculture, import duty relief worth two billion rupees has been granted, and duties on agricultural machinery and equipment imports have been abolished.
The Finance Minister expressed confidence in the budget’s ability to fulfill the promise of providing relief to citizens and achieving economic stability. Positive feedback from within and outside parliament has labeled it as a pro-growth budget, laying the groundwork for accelerating sustainable growth.
Economic indicators show promising trends, Aurangzeb noted, with large-scale manufacturing growing by 6.5 percent and a current account surplus observed over the first eleven months of the fiscal year. Remittances reached 4.25 billion dollars last month, with projections pointing to a total of 41 billion dollars by the year’s end. The export sector is experiencing notable improvements, particularly in value-added products and IT, with IT exports expected to hit a record 4.5 billion dollars, marking a 20 percent increase.
Minister Aurangzeb expressed gratitude to parliamentarians for their detailed discussions and input on the budget, urging continued cooperation among stakeholders to ensure a prosperous future for the country. The National Assembly also reviewed charged expenditures for the next financial year, covering various sectors, including the Pakistan Post Office Department, pensions, and debt repayments.
Minister for Parliamentary Affairs Dr. Tariq Fazal Chaudhry called on the opposition to engage constructively with the government, while Minister of State for Law Aqeel Malik defended the charged expenditures, highlighting reforms aimed at ensuring speedy justice. The House is set to reconvene tomorrow morning.