The federal cabinet, under the chairmanship of Prime Minister Shehbaz Sharif, has approved the budget proposals for the upcoming fiscal year. The crucial cabinet meeting was convened earlier today to deliberate on the financial plan.
According to reports, the federal budget for the fiscal year 2025-26 is estimated to have a total outlay exceeding PKR 17.6 trillion. The budget is scheduled to be presented in the National Assembly later this evening under the chairmanship of Speaker Ayaz Sadiq.
Federal Minister for Finance Muhammad Aurangzeb briefed the cabinet members on the key aspects of the budget during the session. Upon his arrival at the Parliament House, Finance Minister Aurangzeb was questioned about the sustainability of fiscal discipline post-budget. He responded with an optimistic “Insha’Allah” (God willing).
Sources familiar with the matter have indicated that the government has approved a 6 percent increase in the salaries of government employees in the upcoming fiscal year’s budget. Furthermore, the federal cabinet has reportedly also given the green light for a 7 percent increase in pensions.
The budget presentation in the National Assembly later today is expected to shed more light on the government’s financial priorities and planned expenditures for the new fiscal year.
