The federal cabinet on Friday approved the budget for the fiscal year 2026-27 after reviewing key economic proposals and spending plans for the upcoming year.
The cabinet meeting was chaired by Prime Minister Shehbaz Sharif and attended by senior federal ministers, advisers, and top government officials. During the meeting, members discussed major budgetary measures, revenue targets, development spending, and economic priorities for the next fiscal year.
The approved budget outlines the government’s plans regarding taxation, public spending, development projects, salaries and pensions, debt management, and economic growth. Cabinet members reviewed the proposed allocations for various sectors, including education, health, defense, infrastructure, energy, and social welfare programs before giving their final approval.
The budget is expected to focus on maintaining fiscal discipline, meeting revenue collection targets, supporting economic growth, and continuing reforms agreed upon with international financial institutions. Government officials also discussed measures aimed at controlling inflation, expanding the tax base, increasing exports, and attracting investment.
Following the cabinet’s approval, the budget was cleared for presentation before Parliament, where lawmakers will debate the proposed measures before the Finance Bill is formally passed.
The approval marks an important step in the government’s economic planning process as it prepares to implement its fiscal agenda and development priorities for the 2026-27 financial year.
