Business

ISLAMABAD — Federal Minister for Finance and Revenue, Muhammad Aurangzeb, presented the federal budget for 2026-27 in the National Assembly on Friday. The total budget amounts to Rs18.771 trillion. Shift to Economic Growth The latest budget marks a transition from economic stabilization to growth. It highlights investment-driven strategies following two years of fiscal consolidation and reforms. Relief-Oriented Strategy This budget is focused on providing relief by enhancing economic stabilization. It aims to promote expansion through substantial investments, building on existing fiscal policies to boost economic growth. Commitment to Sustainable Development Minister Aurangzeb highlighted the budget’s importance in steering the nation towards sustainable economic development, while maintaining fiscal responsibility. Investment-Focused Policies Emphasizing growth, the budget prioritizes investment-focused policies. This strategic approach is crafted to create a supportive economic environment for development.

ISLAMABAD — The government has earmarked Rs 2.478 billion for climate change and environmental initiatives in the Federal Budget for 2026-27. Experts are applauding this move as a crucial step toward enhancing climate policies and promoting renewable energy. Government Dedication to Climate Policies Analysts highlight that this investment illustrates the government’s dedication to climate-smart policies. The funding is expected to align with strategies laid out by the International Monetary Fund (IMF) and the World Bank. Such financial guidelines are essential in steering sustainable development. Advancing Climate Agendas The budget allocation seeks to emphasize key government priorities and strategic directions. This financial commitment is set to build momentum in promoting both national and international climate agendas. It demonstrates an effort to integrate initiatives across various policy areas.

ISLAMABAD — Federal Minister for National Food Security and Research, Rana Tanveer Hussain, convened a high-level meeting to address issues related to fertilizer availability, pricing, and supply. The session involved provincial agriculture ministers, fertilizer manufacturers, importers, and senior officials. Fertilizer Supply for Key Seasons Participants reviewed the supply of Urea and DAP fertilizers for the ongoing Kharif season and planned for the upcoming Rabi season. Officials confirmed that all ten national fertilizer plants are operational. These plants collectively provide over one million tonnes of Urea, effectively meeting farmers’ demands without shortages. Maintaining Stable Urea Prices Despite rising international fertilizer prices and market uncertainties, Pakistan has maintained stable Urea prices. Minister Hussain emphasized this stability, contrasting it with global trends, and highlighted the importance of steady pricing for economic stability. Addressing Price Hikes Minister Hussain tackled the issue of rising fertilizer prices in some markets. He instructed companies and authorities to halt unjustified price hikes, warning against profiteering and the creation of artificial shortages. Industry Cooperation Representatives from fertilizer companies reassured the government that there would be no significant increase in Urea prices. They pledged their cooperation to ensure stable supplies across Pakistan, supporting the agricultural economy.

ISLAMABAD — Dr. Muhammad Farooq Sattar, a senior leader of the Muttahida Qaumi Movement (MQM), has lauded the government’s decision to allocate funds to the Greater Karachi Bulk Water Supply Scheme, known as the K-IV project. He noted that this financial support is crucial for alleviating Karachi’s ongoing water scarcity issues. Call for Enhanced Investment in Karachi Dr. Sattar emphasized the need for increased financial investment to effectively address infrastructure challenges in Karachi. Given the city’s rapid expansion, he advocates for a comprehensive strategy to upgrade its water supply systems. Significance of the K-IV Project The K-IV project is a key component in enhancing Karachi’s utility services amid a growing population. This initiative is designed to meet the water demands of the expanding urban area and plays a pivotal role in the city’s long-term development strategy.

Commendation for Pakistan Budget Measures The Consumers Association of Pakistan has praised the 2026-27 federal budget. They emphasized how the consumer-focused initiatives are set to deliver substantial public benefits. Efforts to Foster Economic Growth Chairman Kaukab Iqbal expressed approval of the measures aimed at promoting economic growth. The budget’s focus on industrial development is highlighted as essential for enhancing national progress. Key Budget Strategies Investment and Development Initiatives Boosting investment across multiple sectors Enhancing export activities Advancing digital transformation These strategies are designed to create jobs and facilitate sustainable economic progress. Anticipated Economic Impact The association’s response highlights the expected favorable impact on both consumers and the economy, as proposed in the budget plans.

ISLAMABAD — Malik Rasheed Ahmed Khan, Minister of State for National Food Security and Research, praised the new federal budget on Friday. He emphasized its pivotal support for the salaried class, agriculture, and business sectors, describing the budget as balanced and people-friendly. Challenging Economic Environment The budget was developed amid challenging economic circumstances. Khan highlighted the strategic decision to avoid imposing new taxes on the general public, which is a cornerstone of the budget’s strategy. Relief Measures Across Sectors The budget introduces several measures aimed at providing relief across various sectors. These initiatives are designed to ease financial burdens on citizens and reflect a deliberate choice to promote economic growth. Commitment to Economic Stability The minister reaffirmed the government’s commitment to fostering economic stability and growth. The budget directly addresses ongoing fiscal challenges, demonstrating a proactive approach to reinforcing the economy.

RAWALPINDI — The business community in Rawalpindi voiced strong support for the 2026-27 federal budget, endorsing key measures. Yet, business leaders urged clearer economic policies to reduce business costs. Key Budget Highlights and Reactions Usman Shaukat, President of the Rawalpindi Chamber of Commerce and Industry (RCCI), praised the 7% salary and pension increase. He also welcomed the removal of the Federal Excise Duty on medicines for cancer and other serious illnesses. Despite these positives, Shaukat noted the absence of a clear export policy and initiatives to promote a business-friendly environment. He emphasized the need for ongoing consultations with the business community to create a beneficial policy framework. Real Estate Tax Reductions Sohail Altaf, Group Leader and Former President of RCCI, appreciated the tax reduction on property purchases. Rates for filers dropped from 2.5% to 1.25%, and for sellers from 5.5% to 2.75%. He also acknowledged 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, urging lawmakers to reduce operational costs for businesses. He commended Prime Minister Shehbaz Sharif for integrating business chamber inputs into budget discussions. With prevailing tax rates between 50% to 60% creating investment barriers, adjustments are necessary. The business community advocates for expanding the government’s tax net, provided there’s a clear and practical strategy, especially to support small traders.

Government employees and pensioners in Khyber Pakhtunkhwa have warmly welcomed the salary and pension increases in the Federal Budget for 2026-27. The raise provides significant relief amid rising living costs and economic challenges. Financial Relief for Employees The eagerly awaited decision to boost pay is seen as crucial for providing financial relief to public sector workers and retirees. With inflation on the rise, these budgetary measures are essential for easing economic pressures on households. Combating Inflation and Economic Strain Officials emphasize the importance of these financial adjustments as part of broader efforts to support citizens facing ongoing economic challenges. The increased budget allocation underscores the government’s commitment to the welfare of its employees and pensioners.

ISLAMABAD — The federal government has announced a comprehensive Rs3.675 trillion development plan for fiscal year 2026-27. This initiative aims to achieve a 4 percent increase in the national GDP while focusing on attaining a significant current account surplus. Key Focus Areas The plan prioritizes projected growth in exports, remittances, and investments. These sectors are crucial for fortifying the economic framework and realizing the plan’s ambitious objectives. Optimistic Economic Outlook The strategy presents a bright economic outlook. It aims to enhance financial stability and catalyze growth. These developments are set to boost economic activities and support long-term sustainable progress. Growth Drivers Exports Remittances Investments Commitment to Economic Milestones The Annual Plan underscores the government’s dedication to achieving vital economic milestones. It is designed to guide the country towards recovery and expansion in the forthcoming fiscal year.

ISLAMABAD — Prime Minister Shehbaz Sharif led a significant Federal Cabinet meeting on Wednesday, focusing on vital national and economic issues. Meeting Agenda at Parliament House The session at Parliament House centered on recent economic trends and policy initiatives. The primary goal was to align the cabinet’s objectives with the nation’s current economic needs. Economic Growth Strategies Cabinet members engaged in discussions on critical strategic areas, including: Promoting economic growth Addressing financial and infrastructural challenges Adapting financial policies to the current economic scenarios Approval of the Annual Budget 2026-27 After comprehensive discussions, Prime Minister Shehbaz Sharif reviewed and signed the Annual Budget for 2026-27. This budget underscores the government’s commitment to sustainable development and fiscal stability.