Finance Minister Muhammad Aurangzeb has stated that the Federal Budget 2026–27 is aimed at achieving export-led, sustainable and inclusive economic growth.
Winding up discussion on the budget for the next fiscal year in the National Assembly today, he said this will boost productivity and generate employment opportunities for the people.
The Finance Minister mentioned that instead of burdening the existing taxpayers, the government has focused on deepening and broadening the tax net.
He said measures have been taken in the budget to promote equity and fairness in the taxation system. In this regard he pointed to the tax relief given to the salaried class, small businesses and export and construction sectors.
Muhammad Aurangzeb stated that the budget ensures the provision of concessional financing for the export and agriculture sectors.
He noted that retailers have been brought into the tax net through a simplified taxation scheme. He emphasized that comprehensive measures have been introduced to strengthen tax compliance and enhance enforcement mechanisms.
As regards the agriculture sector, the Finance Minister said Zarkhez scheme has been launched under which interest-free and collateral-free loans will be provided to small farmers. He said that seven hundred and fifty thousand farmers will benefit from this scheme of three hundred billion rupees.
He said loans worth one hundred and nine billion rupees will also be provided in the agriculture sector under Prime Minister Youth Business and Agriculture Loan scheme.
He said that the government is providing import duty relief worth two billion rupees to support the modernization of the agriculture sector.
He said that duties on the import of agricultural machinery and equipment have been abolished to facilitate the adoption of modern farming technologies and enhance productivity.
The Finance Minister said the promise of providing relief to the masses on achieving economic stability has been fulfilled in the budget.
Muhammad Aurangzeb expressed satisfaction that feedback on the budget both from both inside and outside the parliament has been positive, and it is being termed as pro-growth budget. He said it will set the foundation to accelerate sustainable growth.
The Finance Minister also expressed satisfaction over the economic indicators saying that large scale manufacturing has witnessed growth of 6.5 percent, while our current account has remained surplus in the first eleven months of current fiscal year.
He said that 4.25 billion dollars was received in remittances last month, expressing the confidence that the remittances will reach forty one billion dollars this financial year.
He said our export sector is showing improvement with significant increase in the exports of value added products and IT. He said there is twenty percent increase in IT exports and these will reach 4.5 billion dollars which will be a new record.
The Finance Minister thanked the parliamentarians for detailed discussions on the budget and their inputs.
He said all stakeholders should continue cooperation on the economic front to ensure a bright future for the country.
The National Assembly held a detailed discussion on the charged expenditures included in demands for grants and appropriations for the next financial year.
These pertained to, among others, Pakistan Post Office Department, Superannuation allowances and pensions, the National Assembly, the Senate, foreign loans repayment, repayment of domestic debt, the Supreme Court, the Federal Constitutional Court of Pakistan and the Islamabad High Court.
Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry urged the opposition to play its due role in strengthening the parliament. He said the government is ready to hold dialogue with the opposition on all issues.
Minister of State for Law Aqeel Malik rejected the objections of the opposition members to the charged expenditures. He said the government has taken necessary reforms to ensure speedy justice for the people.
The House will now meet tomorrow at eleven in the morning.
