The Advisor of the Minister of Finance, Khurram Schehzad, announced Friday that the federal budget for fiscal year 2025-26 will be presented on June 10.
Previously, the Minister of Planning, Ahsan Iqbal, announced that the Federal Government will present the budget of the next fiscal year on June 2, with a development allocation 16 percent of RS921 billion, which will result in the probable closure of approximately 200 ongoing development projects.
The advisor published a publication about X Today, which said: “The federal budget for fiscal year 2025–26 of Pakistan will be presented on June 10, 2025.
“Pakistan’s economic survey 2024–25 will be published one day before the federal budget, on June 9, 2025,” he added.
Last year, Finance Minister Muhammad Aurengzeb, presented his first federal budget with a total disbursement of RS18.9 billion, which analysts said he was widely “in line with the IMF guidelines.”
Aurengzeb, during the presentation of the budget, said that the objective was to expand the tax base to avoid charging existing taxpayers.
The total income of Pakistan for the current fiscal year were budgeted at RS17,815 billion. After accounting for the provincial transfers of RS7,438 billion, the net income stood at RS10,377 billion, which represents a significant increase of 48.7pc compared to fiscal year 2023-24.
The Government also established an ambitious tax collection objective for the Federal Revenue Board at RS12,970 billion, an increase of 38pc from last year.
Earlier on Friday, the International Monetary Fund (IMF) said that its Executive Board approved funds for Pakistan after the country “met all the objectives” by virtue of the extended fund program (EFF), and added that the loan program for Islamabad was only for the stabilization of foreign exchange reserves and not related to the financing of the budget.
During a press conference at Washington DC, the director of the IMF of the Communications Department, Julie Kozack, said: “Our Board discovered that Pakistan had met all the objectives. He had progressed in some of the reforms, and for that reason, the Board continued and approved the program.”
