Islamabad (Web Desk): Federal Minister for Finance Muhammad Aurangzeb will present nearly Rs17.6 billion federal budget for the upcoming fiscal year 2025–26 in the National Assembly today (Tuesday).
A special meeting of the federal cabinet, chaired by Prime Minister Shehbaz Sharif, is scheduled for 4pm today, ahead of the presentation of the national budget.
The meeting will focus on final approval of the federal budget draft for the fiscal year 2025, with particular attention to proposed increases in salaries and pensions for government employees.
Following the cabinet session, the National Assembly will convene at 5pm under the chairmanship of Speaker Sardar Ayaz Sadiq.
During this session, Federal Finance Minister Muhammad Aurangzeb is expected to present the federal budget.
Alongside salary and pension enhancements, the budget is anticipated to include tax relief measures for public sector employees.
According to official sources, federal revenue for the upcoming fiscal year has been projected at Rs19,300 billion.
The Federal Board of Revenue (FBR) has been assigned a tax collection target exceeding Rs14,000 billion.
The budget deficit is expected to hover around Rs6,000 billion, while debt servicing is projected to consume approximately Rs8,500 billion.
The government has set an economic growth target of 4.2% for the next fiscal year. Export receipts are estimated at $35.3 billion, whereas imports are expected to reach $65.2 billion.
To support development initiatives, Rs1,000 billion has been proposed for the Public Sector Development Programme (PSDP), while provinces are to receive Rs8,300 billion under the National Finance Commission (NFC) Award. Defense expenditure is expected to be set at Rs2,550 billion.
In parallel, the Senate is scheduled to meet at 6pm to consider an eight-point agenda.
The session will include the presentation of reports on several legislative items, including the Finance Bill 2025, the Income Tax Amendment Bill, the Narcotics Act, and proposed laws concerning price control.
Meanwhile, the National Assembly, under the direction of Speaker Sadiq, has approved the schedule for the upcoming sessions focused on the presentation and discussion of the federal budget for the fiscal year 2025-26.
Following today’s budget presentation, the House will observe a recess on June 11 and 12. The budget debate will commence on June 13, with all parliamentary parties being allotted appropriate time to participate, in accordance with the Assembly’s rules and procedures.
The general discussion on the budget is set to continue until June 21. There will be no sitting of the House on June 22. On June 23, the National Assembly will engage in discussions regarding charged expenditures for the fiscal year 2025-26.
This will be followed by debates and voting on Demands for Grants and Cut Motions scheduled for June 24 and 25. The Finance Bill for 2025 is slated for approval on June 26, while Supplementary Grants and other related matters will be discussed and voted on June 27.