Islamabad (Web Desk): The federal cabinet has approved the budget for the financial year 2026–27 during a meeting held in Islamabad, marking an important milestone in the government’s annual financial planning process.
The meeting was chaired by Prime Minister Shehbaz Sharif, who led discussions on the proposed fiscal framework, economic outlook, and priority spending areas for the upcoming year. Senior members of the federal cabinet also attended the session.
Prime Minister Shehbaz Sharif expressed confidence that the federal budget for the next financial year will help accelerate economic growth and place the country on a stronger development trajectory. He stated that despite ongoing challenges, the overall economy remains stable.
The prime minister said this is the third budget of the present government. He noted that in the previous two budgets, taxes were imposed in line with national requirements and International Monetary Fund (IMF) conditions, with the aim of stabilizing the economy and expanding development opportunities.
He further said that tax relief and other growth-oriented measures will be included in the upcoming budget to support economic progress and provide relief to different segments of society.
Prime Minister Shehbaz Sharif also referred to his recent discussions with the IMF Managing Director, stating that she had appreciated Pakistan’s economic performance and reform efforts.
Highlighting political consensus, the prime minister said detailed consultations were held with the Pakistan Peoples Party (PPP) regarding the federal budget, while other allied parties extended full support to the budgetary proposals.
He also mentioned consultations with provincial governments regarding additional federal funding requirements and appreciated all provinces for their cooperation, openness, and constructive approach during the budget process.
The approved budget will now be presented in Parliament for further debate and formal approval.