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17:57 May 23, 2025
Adviser to the Finance Minister, Khurram Schehzad, on Friday announced that the federal budget for the fiscal year 2025-26 will be presented on June 10. Earlier, Planning Minister Ahsan Iqbal announced that the federal government will present the next fiscal year’s budget on June 2, with a 16 per cent lower development allocation of Rs921 billion, resulting in the likely closure of about 200 ongoing development projects. The adviser published a post on X today, which read, “The Federal Budget for FY 2025–26 of Pakistan will be presented on June 10, 2025. “The Pakistan Economic Survey 2024–25 will be released a day before the Federal Budget, on June 9, 2025,” he added. Last year, Finance Minister Muhammad Aurangzeb presented his first federal budget with a total outlay of Rs18.9 trillion, which analysts said was broadly “in line with IMF guidelines”. Aurangzeb, during the budget presentation, said that the goal was to widen the tax base to avoid burdening existing taxpayers. Pakistan’s total revenue for the cu...