PM Shehbaz: Budget 2026-27 Prepared with Great Sincerity

Prime Minister Shehbaz Sharif stated on Friday that the federal budget for fiscal year 2026-27 has been formulated with great care and dedication, with the welfare and prosperity of the people placed as the top priority.

In a post on X, the prime minister thanked Allah and said the government had put in considerable effort to create a budget centered on the well-being of Pakistan’s citizens.

He wrote: “Alhamdulillah, this budget has been prepared with great hard work and sincerity, and the welfare and prosperity of Pakistan’s great nation have been given the highest priority.”

The federal budget for 2026-27 is scheduled to be presented later on Friday by Finance Minister Muhammad Aurangzeb, with the total outlay for the upcoming fiscal year expected to be around Rs18 trillion.

Budget proposals indicate that government employees could see a 10 percent salary increase, while salaried individuals are likely to benefit from reduced income tax rates.

Tax rates for those earning between Rs1.2 million and Rs2.2 million annually are expected to decrease. The government is also reportedly considering lowering the Super Tax, though the Corporate Income Tax rate is likely to stay the same.

Several everyday consumer items, including cosmetics, face powder, mascara, shampoo, and soap, may see price reductions due to proposed tax changes.

On the other hand, electric vehicles (EVs), hybrid vehicles, and plug-in hybrid vehicles are expected to become costlier under the proposed budget measures.