Web Desk: Prime Minister Muhammad Shehbaz Sharif signed the official documents for the 2026-27 annual federal budget at Parliament House on Friday, formalizing a massive spending plan after securing crucial backing from his cabinet.
The high-stakes signing ceremony followed a special Federal Cabinet meeting where ministers debated and approved the final terms of the fiscal plan.
This legislative milestone occurred after the government repeatedly delayed the presentation to settle deep-seated policy disputes with coalition allies over revenue targets and state spending.
By endorsing the final drafts, the prime minister cleared the path for Finance Minister Muhammad Aurangzeb to present the complete financial blueprint to the National Assembly later in the afternoon.
The administration designed the new budget to walk a tightrope, aiming to satisfy stringent stabilization criteria set by the International Monetary Fund while simultaneously offering inflationary relief to a cash-strapped public.
Cabinet members gave their final nod to a total outlay expected to exceed 17 trillion rupees. Earlier in the week, the National Economic Council paved the way for this moment by approving a 3.67 trillion rupee national development budget, anchoring the state’s ambitious target of 4% gross domestic product growth for the upcoming fiscal period.
Officials confirm that the finalized documents include aggressive tax collection targets alongside targeted subsidies to shield low-income groups from ongoing price pressures.
Following the formal presentation in the lower house, the budget proposal will head to the Senate for further legislative review before it officially takes effect for the new fiscal year on July 1.
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