Author name: NEN News

ISLAMABAD — Minister of State for Finance and Railways Bilal Azhar Kiyani announced the federal budget for the fiscal year 2026-27 this Wednesday. The new budget is designed to provide relief and boost public welfare, impacting various sectors and demographics positively. Main Targets of the Budget The budget specifically aims to support: Working-class individuals Industry and exporters The construction sector Women and youth Low-income segments A primary goal is to broaden the tax base to sustain economic growth effectively. Driving Economic Growth and Expanding Taxes Kiyani emphasized the government’s dedication to measures that encourage industrial growth and empower various sectors. By expanding the tax base, the government seeks to increase revenue generation without imposing additional burdens on current taxpayers. This strategy aims to nurture a more inclusive economic landscape. Promoting Economic Resilience The budget presentation lays out a strategic plan to bolster economic resilience. It focuses on critical sectors like construction and exports, which are essential for national development. Supporting diverse groups underscores the government’s commitment to equitable growth and social welfare.

ISLAMABAD — The Federal Public Procurement Regulatory Authority (FPPRA) has partnered with the World Bank to craft the Draft National Procurement Strategy (NPS) for 2026–2030. Consultative Session Overview A consultative session on Tuesday brought together representatives from federal, provincial, and Gilgit-Baltistan regulatory authorities. Key multilateral development banks, including the Asian Development Bank, Asian Infrastructure Investment Bank, and Islamic Development Bank, participated. Significance of Public Procurement Hasnat Ahmed Qureshi, the Managing Director of the Federal PPRA, highlighted the importance of public procurement to Pakistan’s economy. It accounts for 19 to 20 percent of GDP. The strategy supports the federal government’s reform agenda by: Enhancing transparency Increasing accountability Boosting competition Improving efficiency Key Strategic Developments Qureshi emphasized the World Bank’s technical support and cooperation with federal and provincial authorities through the Advisory Group on Public Procurement. The strategy targets critical modern priorities, including: Digitization Sustainability Performance monitoring Contract management Workforce professionalization World Bank’s Analysis and Recommendations World Bank consultant Fayeq Deek provided an analysis of the current procurement landscape during the session. He suggested strategic objectives along with a comprehensive reform plan and an implementation framework.

ISLAMABAD — Easypaisa has collaborated with the Pakistan Airports Authority and the State Bank of Pakistan to digitize consumer payments at Islamabad International Airport. This strategic initiative focuses on creating a seamless cashless travel experience for all passengers. Digital Payment Solutions at the Airport The partnership involves the deployment of digital payment systems across various airport touchpoints. By rolling out these solutions, the collaboration aims to significantly enhance traveler convenience and foster the development of a modern travel ecosystem. Easypaisa’s Dedication to Financial Technology This project highlights Easypaisa’s commitment to advancing digital financial solutions. It is in line with Pakistan’s broader goal of integrating financial technology across multiple sectors. This initiative not only benefits travelers but also supports the national drive towards a more digitized economy.

ISLAMABAD — The Securities and Exchange Commission of Pakistan (SECP) Chairman Dr. Kabir Ahmed Sidhu has introduced a comprehensive reform agenda for boosting Pakistan’s capital markets. This initiative aims to expand the investor base and enhance financial literacy across the nation. Boosting Market Accessibility At a press briefing held on Tuesday, Dr. Sidhu emphasized the critical importance of enhancing market accessibility. Expanding this accessibility is essential for drawing a diverse array of investors. The goal is to create a more inclusive investment environment that caters to a wider audience. Strengthened Regulatory Frameworks Central to the reform agenda is the strengthening of regulatory frameworks. Enhancing these frameworks is crucial for securing robust market growth and stability. Dr. Sidhu underscored that such improvements are necessary for cultivating a more vibrant and competitive marketplace. Promoting Market Transparency The reform effort also focuses on increasing market transparency. The SECP is set to implement various measures to heighten transparency, thereby fostering investor education. These efforts are expected to attract both domestic and foreign investments, making the market more appealing and dynamic.

FAISALABAD — Engineer Asim Munir, Vice President of the Faisalabad Chamber of Commerce & Industry (FCCI), praised the Punjab budget 2026-27. He described it as a crucial measure aimed at stimulating economic growth. The budget is designed to facilitate employment, expand industrial activities, and enhance human resource development. Investment Focus in Strategic Sectors The provincial government is prioritizing sectors that can significantly boost economic activity and build investor confidence. This approach is vital, especially during current fiscal challenges, to contribute substantially to the province’s economic progress. Commitment to Economic Advancement The budget showcases the government’s commitment to fostering a favorable environment for economic advancement. It targets key areas to drive growth and development across the region.

ISLAMABAD — The Economic Coordination Committee (ECC) has recently approved several technical supplementary grants. Chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, this meeting focused on boosting financial support across various sectors. Purpose and Allocation of Grants The primary aim of these grants is to ensure the effective allocation of financial resources. They are designed to meet immediate fiscal needs within governmental departments. By providing these funds, the ECC facilitates the prompt execution of projects that require urgent attention. The Role of the Economic Coordination Committee The ECC plays a pivotal role as a decision-making body in the government’s financial management framework. It is tasked with allocating supplementary funds outside the annual budget. This ensures the smooth implementation of essential economic strategies.

LAHORE — The Punjab government has launched the Rs 100 billion initiative named ‘Generation Punjab’ in the fiscal year 2026-27 budget. This ambitious program aims to empower youth through modern skills development, providing employment opportunities and fostering entrepreneurship. Investment in Youth Development ‘Generation Punjab’ focuses on enhancing young people’s capabilities. Key investments are being made in the following areas: Sports Culture Various empowerment programs Adapting to Economic Changes The initiative is a strategic part of preparing the youth for a dynamic job market and an evolving economic landscape. It equips them with essential skills needed for future workplaces, ensuring their adaptability to changing environments. Impact on Economic Growth The ‘Generation Punjab’ initiative underscores the government’s commitment to nurturing the growth and potential of young individuals. This focus is expected to significantly contribute to the province’s long-term socio-economic development.