Finance Minister Aurangzeb says Budget 2026-27 to play pivotal role in taking forward country's economic growth 

Islamabad (Web Desk): Federal Finance Minister Muhammad Aurangzeb has expressed confidence that the federal budget for FY 2026-27 will serve as a major driver of Pakistan’s economic advancement and help maintain the momentum of growth achieved in recent months.

Addressing a post-budget press briefing in Islamabad alongside Information and Broadcasting Minister Attaullah Tarar and Minister of State for Finance Bilal Azhar Kayani, the finance minister said that the encouraging response to the budget from different sectors demonstrates growing trust in the country's economic direction.

The finance minster stated that the government has carefully utilized the available fiscal space to support economic expansion and stimulate growth-oriented activities.

Aurangzeb said that several measures have been introduced to encourage export-led development, including changes related to the super tax and advance tax framework.

He also noted that the Export Refinance Scheme has been broadened, ensuring exporters continue to have access to financing at a concessional rate of 4.5 percent.

The minister said that the government remains focused on reducing the cost of raw materials and intermediate goods, a move aimed at making Pakistani exports more competitive in international markets.

Speaking about agriculture, he said the sector remains a key priority for the government. He highlighted that agricultural financing has exceeded Rs2 trillion, while customs duties, additional customs duties, and regulatory duties on imported agricultural machinery and equipment have been removed to support mechanization and improve productivity.

The finance minister further pointed to the relief measures announced for salaried individuals and the construction industry.

On efforts to expand the tax base, he said the government is increasingly relying on automation and artificial intelligence to reduce human involvement in tax administration, improve transparency, and enhance overall efficiency.

Addressing the presser, Information Minister Attaullah Tarar described the upcoming fiscal year's budget as comprehensive and focused on providing relief to the public.

He said the government has fulfilled its commitment to ease the burden on various segments of society and that the budget offers a clear roadmap for future economic growth.

Tarar added that Pakistan’s macroeconomic stability is now being acknowledged internationally. He also termed the reforms undertaken in the Federal Board of Revenue (FBR) as unprecedented and transformative.

He further noted that dedicated funds have been allocated under the development budget to support educational institutions located in less developed regions across the country.

Minister of State for Finance Bilal Azhar Kayani called the budget people-centric, saying it addresses the needs of salaried employees, industrialists, exporters, and the construction sector alike.

Responding to a question during the press conference, Finance Minister Muhammad Aurangzeb clarified that the government has not raised the petroleum levy in the new budget.