2026

ISLAMABAD — Dr. Muhammad Farooq Sattar, a senior leader of the Muttahida Qaumi Movement (MQM), praised the government for allocating funds to the Greater Karachi Bulk Water Supply Scheme, also known as the K-IV project. He stressed that this financial support is vital to easing Karachi’s persistent water scarcity issues. Increased Investment Needed for Karachi Dr. Sattar highlighted the necessity of boosting financial investments to effectively tackle infrastructure challenges in Karachi. The city’s rapid expansion demands a comprehensive strategy to enhance its water supply systems. Importance of the K-IV Project in Urban Development The K-IV project is integral to improving Karachi’s utility services amid a booming population. This initiative aims to satisfy the water needs of the expanding urban area and is crucial for the city’s long-term development strategy.

Praise for Pakistan Budget 2026-27 The Consumers Association of Pakistan has expressed commendation for the 2026-27 federal budget. The association emphasized that the consumer-focused initiatives are poised to deliver substantial benefits to the public. Efforts Toward Economic Growth Chairman Kaukab Iqbal voiced approval for the budget measures aimed at fostering economic growth. He particularly highlighted the budget’s emphasis on industrial development, deeming it crucial for advancing national progress. Key Budget Strategies Investment and Development Initiatives Boosting investment across various sectors Enhancing export activities Advancing digital transformation These strategies are intended to create job opportunities and support sustainable economic progress. Expected Economic Benefits The association highlighted the anticipated positive impact on both consumers and the broader economy, as outlined in the budget proposals.

ISLAMABAD — Malik Rasheed Ahmed Khan, the Minister of State for National Food Security and Research, commended the new federal budget on Friday. He highlighted its significant support for the salaried class, agriculture, and the business sectors. Khan described the budget as balanced and people-friendly. Economic Challenges Addressed The budget was crafted amid challenging economic conditions. Khan noted the strategic decision to refrain from imposing new taxes on the general public. This decision forms the foundation of the budget’s strategy. Relief Initiatives for Multiple Sectors The budget outlines various measures designed to provide relief across multiple sectors. These initiatives aim to ease the financial burdens on citizens, promoting economic growth proactively. Commitment to Stability and Growth The minister reiterated the government’s commitment to ensuring economic stability and growth. The budget tackles ongoing fiscal challenges, demonstrating a proactive effort to strengthen the economy.

RAWALPINDI — The business community in Rawalpindi has expressed strong support for the 2026-27 federal budget, endorsing key measures. However, business leaders call for clearer economic policies to help reduce business costs. Key Budget Highlights and Reactions Usman Shaukat, President of the Rawalpindi Chamber of Commerce and Industry (RCCI), praised a 7% increase in salaries and pensions. He welcomed the removal of the Federal Excise Duty on medicines for cancer and other serious illnesses. Despite these positives, Shaukat pointed out the lack of a clear export policy and initiatives to promote a more business-friendly environment. He emphasized the importance of ongoing consultations with the business community to develop a beneficial policy framework. Real Estate Tax Reductions Sohail Altaf, Group Leader and Former President of RCCI, appreciated the reduction in property purchase taxes. Rates for filers have decreased from 2.5% to 1.25%, and from 5.5% to 2.75% for sellers. He also praised the exemption from super tax for businesses earning up to Rs. 0.5 billion and a tax rate reduction from 10% to 8% for higher incomes. Call for Policy Clarity Altaf highlighted current ambiguities in GST policies and urged lawmakers to lower operational costs for businesses. He commended Prime Minister Shehbaz Sharif for incorporating business chamber input into budget discussions. With prevailing tax rates between 50% to 60% creating barriers to investment, adjustments are necessary. The business community advocates expanding the government’s tax net with a clear and practical strategy, especially to support small traders.